London, S'pore 'can serve Asia's insurance needs'

INTERNATIONAL financial centres outside Asia such as London, with the enormous breadth of their markets, depth of financial expertise and connectivity with other financial centres, stand to gain from the rise of Asia, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).

He added that London and Singapore can complement each other by collaborating on providing insurance and risk-management solutions that are relevant, appropriate and responsive to Asian needs.

He told the Insurance Institute of London in the British capital on Tuesday that this partnership would be one that marries London's unparalleled insurance expertise and experience with Singapore's proximity to market and client knowledge.