NY-STARR/FPG
Starr Insurance Companies (Starr) announced an agreement with FPG Insurance Holdings Limited (HK) (FPG) and local Thai shareholders to purchase FPG Insurance Public Company Limited (FPG Thailand), a Thai non-life insurance company, together with local Thai parties.
Starr’s investment will be held by its Bermuda insurance company, Starr Insurance & Reinsurance Limited. The transaction is expected to close in the second quarter of 2022, subject to certain customary closing conditions, including any necessary regulatory approvals.
“Thailand is an important, fast-growing insurance market — one of the cornerstones of the Southeast Asia economy,” said Maurice R. Greenberg, Starr’s Chairman & CEO. “Asia is both commercially and culturally important to Starr, as we trace our roots to an American-owned company founded in Shanghai more than 100 years ago. We look forward to serving the needs of local Thai companies and consumers through this new insurance capability.”
David Zuellig, FPG regional chairman, said, “This transaction reflects the standing of our franchises and is the product of the hard work, persistence, and determination of the FPG Thailand team despite challenging market conditions. The team is excited and ready to work with Starr in bringing the company to the next level.”
Starr expects to strengthen local product offerings with tailored commercial insurance and Accident & Health (A&H) products and plans to further maximize its growth by recruiting and developing local Thai insurance talent. Previously, Starr supported the Thai insurance market primarily through its provision of reinsurance products, including Technical Risks, Casualty, Marine, and A&H products.
Gerard Pennefather from Huntington, strategic advisors to FPG, said, “This is a fantastic outcome for both Starr and FPG. We believe Starr is the ideal home for FPG Thailand to build scale, and expand capabilities and distribution, whilst bringing innovation to the market.”
According to a recent report by rating agency AM Best, in 2021 Thailand’s non-life insurance market was estimated to be THB 253 billion (USD $8.3 billion) in terms of direct premium written.
The operation’s headquarters are expected to remain in Bangkok.
About Starr Insurance Companies
Starr Insurance Companies (or Starr) is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Singapore, U.K., Switzerland, and Malta each have an A.M. Best rating of “A” (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong).
About FPG Insurance Group
Established for over half a century, FPG Insurance Group is an ASEAN based non-life insurance group.
About Huntington
Huntington and its associated companies are an integrated strategic advisory/start-up capital and private equity group focused on (re)insurance, based in Singapore and Turkey.
Visit us at www.starrcompanies.com or follow us LinkedIn and Twitter .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220517006195/en/
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SimpliStor™ Solid State Data Recorder Delivers High-Speed, Radiation-Tolerant Storage for Next-Generation Space Missions20.11.2025 13:00:00 CET | Press release
Frontgrade™ Technologies, a leading provider of high-reliability electronic solutions for space and national security missions, today announced the release of the SimpliStor™ Solid State Data Recorder (SSDR), a next-generation, radiation-tolerant data recorder that gives satellite operators, system integrators, and spacecraft designers a faster, smarter, and more resilient way to capture and protect mission-critical information in orbit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120514203/en/ Frontgrade's SimpiStor™ 2.5TB Solid-State Data Recorder High-Throughput Performance SimpliStor delivers 2.5 terabytes of storage and 10Gbps throughput in a compact 3U SpaceVPX package, combining exceptional performance with low power consumption. Users can record more data in less time, with latency under 100 microseconds and continuous “store-to-full” recording, ensuring no data loss during peak operations. A 33-minute continuo
Compass Pathways to Participate in Two Investor Conferences in December20.11.2025 12:30:00 CET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will participate in the following December investor conferences: 8th Annual Evercore Healthcare Conference – Coral Gables, FL: Fireside chat at 10:00am ET on December 2, 2025 Piper Sandler 37th Annual Healthcare Conference – New York, NY: Fireside chat at 1:30pm ET on December 3, 2025 A live audio webcast of these events will be accessible from the “Events” page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following each event. About Compass Pathways Compass Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people with serious mental health conditions who are not helped by existing treatment
NIQ Achieves Certification as Google Meridian Partner20.11.2025 12:00:00 CET | Press release
Certification strengthens NIQ’s position as a global leader in media outcomes measurement. NIQ, a leading consumer intelligence company, is proud to announce its certification as a Google Meridian partner, enabling NIQ to utilize Google’s open-source marketing mix models to measure marketing impact for advertisers. This achievement underscores NIQ’s commitment to delivering transparent and actionable outcome measurement solutions that help advertisers evaluate and optimize their marketing investments worldwide. Google's Meridian is an open-source Marketing Mix Model (MMM) designed to help businesses measure marketing effectiveness and optimize ad budgets across various media channels. By joining a select group of certified partners, NIQ is collaborating with Google to advance outcome measurement standards and introduce new innovations that complement NIQ’s proprietary MMM solution - helping make high-quality measurement more accessible to marketers everywhere. New Meridian innovations
BeOne Medicines Showcases Leadership in B-cell Malignancies at ASH 202520.11.2025 12:00:00 CET | Press release
BRUKINSA now demonstrates best-in-class sustained efficacy and long-term benefit with a favorable safety profile over more than six years of follow-up data in treatment-naïve and R/R CLLFirst results from Phase 1/2 sonrotoclax monotherapy study will demonstrate notable speed and depth of clinical responses in patients with R/R MCL, a rare, aggressive cancerNew efficacy and safety data will highlight the benefits of potential first-in-class BTK degrader BGB-16673 in patients across multiple hematological malignancies BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, advances its vision to become the world’s leading oncology company with extensive new data from its differentiated hematology portfolio at the 67th American Society of Hematology (ASH) Annual Meeting and Exposition in Orlando, Florida, December 6-9. Nearly 50 abstracts have been accepted, including six oral presentations, featuring the company’s three transformative approved and investi
ZKB in Switzerland Completes ISO 20022 Migration Using Smartstream for Reconciliations20.11.2025 11:40:00 CET | Press release
Key Facts Zürcher Kantonalbank (ZKB) can now process ISO 20022 reporting messages ahead of the global SWIFT deadline, going live with Smartstream’s Corona MX solution as part of the Smart Reconciliations suite. The migration, executed in close collaboration with Smartstream and supported by ZKB’s ISO 20022 expertise, enhances the bank’s reconciliation capabilities, particularly for cash transactions across multi-account and currency operations. This strategic move strengthens ZKB’s commitment to innovation and compliance, enabling full payment lifecycle visibility and positioning the bank for future operational excellence. Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces, Zürcher Kantonalbank (ZKB), the largest cantonal bank in Switzerland, has successfully completed its ISO 20022 migration project for reporting messages, now live with Corona MX - part of the Smart Reconciliations solutions suite. This milestone
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom