The partnership leverages the expertise of MSIG USA’s seasoned political risk and trade credit underwriting team alongside the strong local presence and market knowledge of MSIG Singapore and MSIG Hong Kong. This powerful combination positions the company to capitalise on the growing demand for political risk and trade credit solutions in the region, ensuring comprehensive and customised coverage for businesses navigating an evolving global trade landscape.
“Expanding our political risk and trade credit capabilities in Asia is a key strategic move for MSIG USA,” said Peter McKenna, CEO of MSIG USA. “By collaborating with MSIG Singapore and MSIG Hong Kong, we are strengthening our ability to serve global clients with tailored solutions that address the challenges of international trade. This partnership underscores our commitment to being a reliable risk management partner for businesses operating in complex environments.”
Clemens Philippi, CEO of MSIG Asia, added, “This initiative aligns with our regional growth strategy, reinforcing our ability to deliver enhanced risk solutions across Asia. The combination of MSIG USA’s underwriting expertise, led by Dan Riordan and Richard Abizaid, and our strong local market presence enables us to better serve businesses in the region, helping them navigate the evolving economic and political landscape with confidence.”
MSIG USA’s strong Class 15, A+ financial ratings and brand recognition have facilitated valuable connections with customers and brokers, reinforcing the company’s competitive advantage in the market. This collaboration underscores MSIG USA’s dedication to delivering innovative insurance solutions that address the evolving challenges of international trade and investment.
Dan Riordan, Head of Political Risk and Trade Credit for MSIG USA, commented, “The demand for political risk and trade credit insurance is rapidly increasing as businesses seek protection against uncertain geopolitical and economic conditions. Our collaboration with MSIG Singapore and MSIG Hong Kong will allow us to offer more localised expertise and strengthen our ability to provide comprehensive coverage that meets the needs of multinational clients.”
Mack Eng, CEO of MSIG Singapore, shared, “Leveraging on our group synergy with MSIG USA’s strong political risk and trade credit underwriting capabilities will certainly help us enhance value to our clients and partners in the Singapore market, in particular, to our growing portfolio of regional programmes which serve Singapore-based businesses building up their multinational presence. We are excited about the opportunities to serve our clients and partners even better with this collaboration.”Hashtag: #MSIG
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About MSIG USA
MSIG USA is the marketing term used to refer to MSIG Holdings (U.S.A.), Inc. (“MSIGH”), its insurance subsidiaries, and their managers. MSIGH’s insurers are Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc., and MSIG Specialty Insurance USA Inc. The insurers are managed by Mitsui Sumitomo Marine Management (U.S.A.), Inc. and MSIG Insurance Services, Inc. MSIGH is a subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers with a 350-year heritage, A+, Class 15 ratings, and a global reach that spans 40+ countries and regions. Within Asia, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, China, Korea, India and Taiwan. It is the top non-life regional insurance provider in ASEAN based on gross written premiums. MSIGH brings the financial strength, underwriting expertise, exceptional claims management, global footprint, and innovation necessary to offer commercial insurance solutions that address unique risks businesses face in today’s market. Its nationwide network of over 500 professionals enables them to provide responsive and personalised service for their clients. The US-based insurance subsidiaries are admitted in all P&C lines in all 50 states, the District of Columbia, and Puerto Rico. Not all insurers do business in all jurisdictions. Actual coverage is subject to the language of the policies as issued. To learn more, visit www.msigusa.com.
About MSIG Singapore
A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor’s.
MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions. In 2024, MSIG was honoured with the ‘Best General Insurer for Singapore’ award by InsuranceAsia News. This prestigious recognition highlights its unwavering commitment to excellence and customer satisfaction.
MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group – one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.
