Munich Re Syndicate Singapore (MRSS) has teamed up with Singapore-based Lloyd’s coverholder Nectar Specialty Risk to further strengthen its footprint in Asian market.

Through its financial lines business unit Nectar Pro, Nectar offers a range of professional lines products in emerging Asian markets in South East Asia and Indian sub-continent.

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With an emphasis on Directors and Officers (D&O), Professional Indemnity (PI), Crime and Financial Institutions, Nectar Pro team offers capacity and solid protection for coporations across the Asia-Pacific region as direct insurance and reinsurance via local insurers.

Munich Re Syndicate head of Asia Celine Ang said: “Asia Pacific is one of the key growth markets for Munich Re Syndicate, since the inauguration of our Singapore office as our Asia Hub last summer.

“We are able to capitalise on our regional experience of understanding different economies, cultures and businesses across geographies to provide quality service to the Asia Pacific region.”

Ang further stated that Nectar PRO will enable MRSS to expand both its distribution into these Asian markets and also to service the mid-market segment with a high volume of transactions in an efficient manner.

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“In this respect, it is completely complementary to both our current open market Financial Lines strategy in the region and to our overall business strategy of transitioning to a specialty Syndicate with a diverse business offering,”Ang concluded.

Nectar underwrites on behalf of Munich Re Syndicate Singapore under authority from Munich Re Syndicate 457 at Lloyd’s.