Temasek-backed insurance group SRG eyes regional expansion

Firm with UK, Irish heritage wants to grow in Malaysia, the Philippines and Indonesia

- Claire Huang

The speciality insurance group that counts Singapore's investment company Temasek and global private equity firm Warburg Pincus as majority shareholders has set its sights on an aggressive plan to expand its footprint in the region.

Specialist Risk Group, or SRG, which has British and Irish heritage, is now looking to add operations in regional markets such as Malaysia, the Philippines and Indonesia, said its Asia-Pacific chief executive Collin Yap.

This comes as the group launched its operations in Singapore, which is its Asia-Pacific headquarters, following the October 2024 acquisition of Singapore-based retail insurance broker HL Suntek Insurance Brokers from Hong Leong Holdings.

Mr Yap, 54, said the group is looking to grow its regional business in excess of 10 per cent year on year.

The firm, now fully licensed, is offering financial risk coverage such as professional indemnity insurance for various professions like doctors, lawyers and accountants, marine hull insurance, warrant and indemnity coverage in mergers and acquisitions, as well as political risk coverage.