Great American Insurance opens first office in Asia

U.S.-based Great American Insurance Co. Inc. has opened its first office in Singapore and expects to generate annual revenue of $100 million by the end of 2017 from the branch, The Straits Times reported.

It is the insurer's first office in Asia. The insurer aims to generate around 70% of its revenue in Singapore by providing cover to specific business sectors. Great American Insurance said that it opened the branch because Singapore's insurance market is "well regulated" with "substantial potential for future growth."

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