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
Venture Global and Tokyo Gas Announce 20-Year LNG Sales and Purchase Agreement26.11.2025 01:00:00 CET | Press release
Venture Global’s fourth long-term contract with a Japanese company7.75 MTPA of long-term contracts signed by Venture Global to date in 2025 Today, Venture Global, Inc. (NYSE: VG) and Tokyo Gas Co., Ltd announced the execution of a new, long-term liquefied natural gas (LNG) Sales and Purchase Agreement (SPA). Under the SPA, Tokyo Gas will procure 1 million tonnes per annum (MTPA) of LNG from Venture Global for 20 years, starting in 2030. This deal marks 7.75MTPA of SPAs signed by Venture Global in the last six months. “With nearly 8 MTPA of new long-term commitments signed this year, Venture Global is pleased to build on our commercial momentum through this new partnership with Tokyo Gas,” said Venture Global CEO Mike Sabel. “Tokyo Gas is a pioneer in the LNG industry and leading provider of natural gas to Japan, and we look forward to working with them as we grow our position as a top LNG supplier to Japan. This agreement will contribute significantly to the US-Japan balance of trade o
Airship Study: No-Code Native App Experiences Double Purchase Frequency (+140%), Offering Path to Profitable Holiday Growth26.11.2025 00:08:00 CET | Press release
New research quantifies the massive conversion lift from optimizing native app and web experiences, providing a critical no-code path for retailers to drive profitability Mobile-first customer experience company Airship today released new aggregate data analysis findings showing that no-code native app experiences significantly increase conversion for key lifecycle events and more than double purchase frequency. The Airship "Experience Impact” research, which studied over 1,000 in-app retail experiences and 1.7 billion device sessions, quantifies the impact of optimizing end-to-end customer journeys—not just sending messages—using no-code and AI-powered tools to drive loyalty and retention at scale, leading to sustainable profitability in a volatile economic environment. Key Findings Customers exposed to high-impact no-code native app experiences such as optimized onboarding flows, dynamic surveys, or embedded personalized offers, purchase 140% more frequently than app customers who do
Court Finds That Two Advanced Cell Diagnostics Patents Are Not Infringed by Molecular Instruments’ Proprietary HCR™ RNA-ISH Technology25.11.2025 17:30:00 CET | Press release
Molecular Instruments, Inc. announced today that the Unified Patent Court (UPC) of the European Union has found that Molecular Instruments’ HCR™ RNA-ISH technology does not infringe two patents owned by Advanced Cell Diagnostics, Inc. (a Bio-Techne group company). In a 2024 lawsuit filed in the UPC (proceedings no. UPC CFI 187/2024), Advanced Cell Diagnostics alleged that Molecular Instruments’ HCR™ RNA-ISH technology infringes European patents (EP) 2,500,439 and 1,910,572. The Court in its judgment of 18 November 2025 has rejected that claim and dismissed all of Advanced Cell Diagnostics' lawsuit, ruling that the patents are not infringed either literally or by equivalence (UPC Judgment). This 2025 UPC judgment follows on the heels of an April 2024 UK judgment in which the High Court of England and Wales had already dismissed an earlier infringement lawsuit by revoking the UK parts of the same two Advanced Cell Diagnostics patents (proceedings no. HP-2022-000026), ruling that they wer
Pure Lithium Receives Saudi Patent for Vertically Integrated Lithium Metal Battery Technology25.11.2025 14:20:00 CET | Press release
Pure Lithium Corporation, a disruptive lithium metal battery technology company, is pleased to announce that the Kingdom of Saudi Arabia has granted the company a foundational patent titled “Vertically Integrated Pure Lithium Metal Production and Lithium Battery Production.” This broad patent covers technology that combines lithium extraction, anode production and battery manufacturing. Pure Lithium’s Brine to Battery™ is a registered trademark in the Kingdom of Saudi Arabia, planting a strong base of intellectual property in the region. “The technology is particularly relevant to Saudi Arabia because it is one of the places in the world with lithium-containing brines, and even has an abundance of vanadium, which is used in our second-generation battery,” said Founder, Chairman and CEO Emilie Bodoin. “In order to displace today’s lithium-ion battery, our vision is to create global battery hubs with closed loop supply chains, not just in the U.S., but in the many places in the world whe
‘BLUE LOCK - TOKYO EGOIST -’ kicks off on Saturday, November 2225.11.2025 14:07:00 CET | Press release
“BLUE LOCK” voice actors Kazuki Ura and Hiroshi Kamiya were also blown away by the spectacle! A countdown to the new release was held together with over 2,000 fans gathered at the Tokyo Metropolitan Government Plaza. In its efforts to promote nighttime tourism, the Tokyo Metropolitan Government is developing new attractions that illuminate the capital after dark. As part of this initiative, projection mapping is being presented year-round on the iconic Tokyo Metropolitan Government Building No. 1, transforming its façade into a canvas of light and sound. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251121922505/en/ ©Muneyuki Kaneshiro, Yusuke Nomura, KODANSHA/BLUE LOCK Production Committee. A brand-new production inspired by the internationally popular soccer anime“BLUE LOCK”, titled BLUE LOCK – TOKYO EGOIST –, began screening on Saturday, November 22. On the first day of the screening, a mini-event was held at the Tokyo M
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