London, United Kingdom
Newline Underwriting Management Limited, the Managing Agent of Syndicate 1218 at Lloyd's ("Newline"), is pleased to announce that it has opened its first overseas office, in Singapore, under the banner of Newline Asia. Newline forms part of the London Market Division of Odyssey Re Holdings Corp. (NYSE: ORH), and operating through Lloyd's, Newline is rated "A" by both A.M. Best Company and Standard & Poor's.
Newline has specialized in underwriting international liability insurance through Syndicate 1218 for over ten years. From April 2007, Newline Asia will offer clients in the region access to the Syndicate's full complement of financial lines products, including:
-- Professional Indemnity
-- Directors' and Officers' Liability
-- Bankers' Blanket Bond
-- Crime
-- General Liability & Products Liability
-- Medical Malpractice
Olivier Massot, General Manager of OdysseyRe's Singapore branch, will also act as the CEO for Newline Asia. Rob Hands, previously a specialist Financial Institutions underwriter with Newline in London, has relocated to Singapore to become Newline Asia's Chief Underwriting Officer.
Brian D. Young, CEO of OdysseyRe's London Market Division, stated, "We are keen to develop our portfolio in Asia and by establishing a physical presence in Singapore we will enhance our ability to meet the growing demand for financial lines insurance in the region."
Andrew A. Barnard, President and CEO of Odyssey Re Holdings Corp., commented, "This is an important step for our Lloyd's operation, demonstrating OdysseyRe's ability to leverage its presence around the world."
Odyssey Re Holdings Corp. is a leading worldwide underwriter of property and casualty treaty and facultative reinsurance, as well as specialty insurance. OdysseyRe operates through its subsidiaries, Odyssey America Reinsurance Corporation, Hudson Insurance Company, Hudson Specialty Insurance Company, Clearwater Insurance Company, Newline Underwriting Management Limited, Newline Insurance Company Limited and Newline Asia Services Pte. Ltd. The Company underwrites through offices in the United States, London, Paris, Singapore, Toronto and Latin America. Odyssey Re Holdings Corp. is listed on the New York Stock Exchange under the symbol ORH.
CONTACT: Newline Asia Olivier Massot, Chief Executive Officer Telephone +(65) 6438 3806 Ext 104 E-mail omassot@odysseyre.com or Rob Hands, Chief Underwriting Officer Telephone +(65) 6438 3806 Ext 130 Mobile +(65) 8222 4491 E-mail rhands@newlineuml.com or Newline Asia Services Pte. Ltd. 9 Raffles Place #37-01 Republic Plaza Singapore 048619 Fax +(65) 6438 3827/65
Source: Business Wire (Business Wire India)