Munich Re Syndicate Singapore Partners with Lloyd’s Coverholder Nectar Specialty Risk

Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under the trading name of Nectar PRO, a financial lines business unit focused on emerging Asian markets in Southeast Asia and the Indian sub-continent. Nectar PRO offers “significant capacity” in the areas of directors and officers (D&O), professional indemnity (PI), crime and financial institutions, for corporations across the Asia-Pacific region, said MRSS, explaining that coverage is provided as direct insurance and reinsurance through local insurers. Nectar offers the security of Lloyd’s of London and will now underwrite on behalf of Munich Re Syndicate Singapore Pte Ltd, under authority from Munich Re Syndicate 457 at Lloyd’s. 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,” commented Celine Ang, head of Asia, Munich Re Syndicate Ltd. “We are able to capitalize on our regional experience of understanding different economies, cultures and businesses across geographies to provide quality service to the Asia Pacific region.