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
DNP Achieves 10nm Line Pattern Resolution on Nanoimprint Template for Cutting-Edge Semiconductors9.12.2025 11:12:00 CET | Press release
- Supports 1.4nm Generation Semiconductors, Reduces Manufacturing Costs and Energy Consumption - Dai Nippon Printing Co., Ltd. (DNP, TOKYO:7912) today announced the development of a nanoimprint lithography (NIL) template featuring a circuit line width of 10 nanometers (nm: 10-9 meter). The new template enables patterning for logic semiconductors equivalent to the 1.4nm generation and meets the miniaturization needs of cutting-edge logic semiconductors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208175160/en/ Template for nanoimprint Background and Aims In line with the shift to more sophisticated devices seen in recent years, demands have emerged for even greater miniaturization in cutting-edge semiconductors, leading to advances in Extreme Ultra-Violet (EUV) lithography-based production. EUV lithography, however, requires substantial capital investment, energy consumption, and operating costs in building production l
Reply Achieves the AWS Agentic AI Specialization and Is Named an Implementation Partner for Amazon Bedrock AgentCore9.12.2025 10:47:00 CET | Press release
Reply [EXM, STAR: REY] announced that it has achieved the Amazon Web Services (AWS) Agentic AI Specialization, a new category within the AWS AI Competency. This recognition positions Reply and its companies specialized in AWS technologies - Data Reply and Storm Reply - among the AWS Partners able to help customers deploy smart, self-operating AI systems that can think, plan, and act autonomously to execute complex business processes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209601808/en/ Through Amazon Bedrock AgentCore, organizations can simplify and secure the development of intelligent agents at scale, interact with enterprise systems, analyze data in real time, and automate complex processes. The specialization further strengthens Reply’s long-standing expertise in AWS technologies and its ability to deliver production-ready autonomous AI systems based on Amazon Bedrock Agents and AWS-native frameworks, enabling
LabelVie Advances AI-Driven Grocery Retail Transformation Through Long-Standing Collaboration with SymphonyAI9.12.2025 10:00:00 CET | Press release
Longstanding collaboration powers data-driven supply chain innovation, driving measurable ROI and operational agility across LabelVie’s growing retail footprint For more than two decades, LabelVie Group has relied on SymphonyAI, a global leader in Vertical AI product platforms, to power its grocery retail transformation. Now, that partnership is entering a new phase — one defined by connected intelligence, predictive precision, and measurable impact across LabelVie’s 270-plus stores in Morocco and Ivory Coast. As one of North Africa’s largest and fastest-growing grocery retail and wholesale operators, LabelVie is advancing its digital modernization through SymphonyAI’s end-to-end retail solutions, which support greater visibility, accuracy, and operational coordination across its growing network. The continued collaboration reinforces a long-term commitment to improving supply-chain processes and store operations as LabelVie expands into new markets and grocery retail formats. “Symphon
INNIO wins prestigious German Sustainability Award 20269.12.2025 09:07:00 CET | Press release
INNIO Group has been awarded the German Sustainability Award for Companies 2026. At the 18th annual ceremony in Düsseldorf, INNIO was named winner in the “Engines and Turbines” category within the “Machines and Installations” sector. Recognized as one of Europe’s most respected distinctions for corporate responsibility, the German Sustainability Award reflects the United Nations’ Agenda 2030 and thus on the key areas of transformation such as climate, biodiversity, resources, supply chain, and society. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251205520809/en/ INNIO wins prestigious German Sustainability Award 2026 (c) Frank Fendler “This award is a tremendous recognition for our entire team and validates our 360-degree approach to sustainable innovation throughout the value chain,” said Marcin Kawa, VP Sustainability at INNIO Group. “We are committed to actively shaping the energy transition and delivering solutions th
EURONICS and NIQ Forge Strategic Collaboration to Elevate Retail Pricing Intelligence9.12.2025 09:00:00 CET | Press release
NIQ (NYSE: NIQ), a leading consumer intelligence company combined with GfK in 2023, has been selected by EURONICS, a leading global shopping cooperative in the Technical Consumer Goods (TCG) sector, to provide comprehensive Online Price Monitoring. NIQ's Online Price Monitoring provides insights into pricing dynamics by tracking item-level pricing across a defined data set. The system captures product information, matches items accurately, and ensures quality through advanced automated processes combined with human oversight and detailed checks. NIQ offers a range of retail pricing solutions, including pricing intelligence tools and the Consumer Price Lab, empowering businesses to make informed decisions and optimize their pricing strategies. This collaboration focuses on providing EURONICS with comprehensive pricing insights to support informed decision-making. NIQ delivers accurate and transparent data to help EURONICS understand market dynamics and plan effectively. "Through our col
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