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A.M. Best Singapore office to focus on Asian market

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A.M. Best Co. Inc. has opened an office in Singapore, the insurance and reinsurance credit rating agency said Tuesday in a statement.

The office will provide ratings to insurers, reinsurers, takaful operators and captives in Singapore and across the Association of Southeast Asian Nations and Australasia regions, the Oldwick, New Jersey-based firm said.

The office will be led by Roger Sellek, CEO of A.M. Best’s operations outside of the Americas, the company said. Mr. Sellek will be based in Singapore.

A.M. Best’s team of specialist credit rating analysts in Singapore will be led by MM Lee, head of analytics for Asia-Pacific.

“Singapore is the obvious choice for a credit rating agency serving the insurance sector as it is home to almost 250 insurers, reinsurers, captives and broking companies,” Mr. Sellek said in the statement. “It can truly lay claim to be the international insurance and reinsurance hub of Southeast Asia.”

A.M. Best currently rates 13 Singapore-based companies, and has nearly 40 live ratings across the Association of Southeast Asian Nations, according to the statement.

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