By Andrew Tjaardstra; www.postonline.co.uk
As revealed by Post in March, the MGA is offering reinsurance capacity to insurers and to directly share extendend warranty client risks (as much as 80%) for motor manufacturers and dealers across Asia.
In addition, Nexassure has establised a multilingual white label claims service for insurers in Kuala Lumpur, Malaysia. The centre provides policies online with real time access to loss ratios.
Nexassure director and co-founder Harj Sandhu, pictured right, who is moving to Singapore to help establish the new venture, told Post at the Singapore International Reinsurance Conference: “We are bringing much needed expertise to the region and are very excited to be partnering with Hannover Re.”
He added: “Insurers can now deal with a partner in Asia as opposed to going elsewhere. We also see significant potential for understanding of this market to grow and it to become more attractive.”
Dermot Reilly, Nexassure co-founder and director, pictured left, has moved to work in Hong Kong and is currently recruiting a specialist underwriter.
The MGA is also looking at providing extended warranties for television and air conditioning manufacturers.