AU Group, PhillipCapital set up joint venture to tap growth opportunities in Asia
SPECIALIST credit-insurance broker AU Group and PhillipCapital have announced a new joint venture in Asia and the opening of its first subsidiary in Singapore.
The move comes as PhillipCapital, which has interests in insurance underwriting and broking, looks to expand further in the area of credit and political risks while AU Group paves the way for future expansion in the region through this partnership.
The joint venture, AU Group Asia, is led by Gerald Lim, a pioneer in credit and political risk insurances in the region.
AU Group Singapore is led by Don Low, who was a senior underwriter at Coface and Ace before joining Marsh as head of political risks and structured credit for Marsh Asia.
The growing team in Singapore will bring strong expertise in transactional structured credit and political risks and conventional trade credit insurances, the two said.
The Asia-Pacific is a key region for the growth of traditional credit insurance as well as structured trade and political risk insurance.
Companies across the region are expected to benefit from AU Group and PhillipCapital combining their respective strengths to help optimise receivables and balance sheets, control risks, and facilitate funding requirements.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
ByteDance prefers TikTok shutdown in US if legal options fail: sources
CapitaLand Investment posts total revenue of S$650 million for Q1
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter