Over the past 33 years, Anthony Lim, Founder and Executive Chairman of Acclaim, has built his business into one of Singapore’s leading independent insurance brokers with over 60 staff. FULLCOVER found out more about his route to success and his relationship with Brokerslink. Don´t miss the opportunity to know more about Singapore through the eyes of its people. Anthony Lim took us on a tour, discussing its history and pointing out places of interest You can also check out the facts & figures of Singapore insurance market.

1. A
INS
B
THE PURS
OF A DREA

2. ACCLAIM
SURANCE
BROKERS
SUIT
AM

3. 32
Anthony Lim speaking at MDS's 30th anniversary.

4. 33
f u l l c o v e r
In the same year he was invited by the
Government to serve on several financial
and insurance committees (set up to help
bring Singapore out of the national crisis)
and in a bid to raise Acclaim’s profile
internationally, Anthony created the
SingaporeInternationalInsuranceBrokers
Conference,attractingdelegatesfrommore
than25countries(the1998Conferencewas
so successful it became a major biennial
event in the region). In 2003, he was
elected Chairman of the World Federation
of Insurance Intermediaries, a global
insurance brokers and agents’ association
with members in over 80 countries.
During this period, the world was
undergoing intense regulatory changes.
Wieldingtheinfluencegainedinhisglobal
roles,Anthonyinvitedworld-wideleading
insurance practitioners to an Insurance
Leaders Forum in Singapore. This not
only gave local and regional insurance
companies and brokers an opportunity
to better understand the impact of the
changes and how to act upon them, but it
broughtinsurancebrokersandregulators
together – enabling open dialogue.
Whilemostinsurancebrokerswerestill
grappling with the consequences of the
economiccrisisandcontinuousregulatory
changes, Acclaim embarked on a series
Over the past 33 years, Anthony Lim, Founder
and Executive Chairman of Acclaim, has built his
business into one of Singapore’s leading independent
insurance brokers with over 60 staff. fullcover
found out more about his route to success and his
relationship with Brokerslink.
The pursuit of a dream
Thejourneybeginsin1982withAnthony’s
dream ‘to be the best insurance broker
he can be’. “I was young, innocent and
naive”,hesays“butayearlater,Isetupthe
Company and made my first transaction
inJanuary1983.Iwasaone-manbandand
deliveredmyfirstpolicybyfoot.Although
small compared to other firms in the
industry, my ambition was to become a
national company.”
Oneyearon,Anthonywasstilllearning
howto‘crawl’whenSingaporeexperienced
its first post-independence recession. In
early 1984 there were already warning
signsofaslowingeconomy,butabooming
constructionindustrybolsteredtheoverall
numbers.However,bytheendofthatyear
the construction market had become
saturated and only a few projects were in
thepipelineforcompletion. Singaporewas
facingacrisis!TokeeptheCompanyafloat,
Anthonydidnotpayhimselfanysalaryor
allowance for a year, but he ensured every
member of his team was paid on time.
For the Company to grow, it had to be
an active player in the market; Anthony
joinedseveralorganisations,includingthe
Singapore Insurance Brokers Association
where he was elected President in 1998.

5. 34
M D S m a g a z i n e
Jose Manuel Fonseca and Anthony Lim at the
Brokerslink booth at PARIMA, Singapore, 2015.
of mergers and acquisitions with local
insurancebrokers.Bybuildingitsbusiness
portfolios,Acclaimwasinabetterposition
to compete in the market.
Anthony says: “Where others saw
challenges, we saw opportunities; many
partsofAsiawerestillrelativelyuntapped
and in varying degrees of liberalisation,
and the concept of risk management was
beginningtotakerootinAsia–presenting
newopportunities.Singaporewas(andstill
is) well-positioned to work with existing
and new players so in order to harness
these opportunities, I decided to expand
the leadership team. I wanted a person
withglobalexperiencewhohadworkedin
multinationalcorporationsandafterthree
years of head hunting, convinced Tony
Lim (no relation) to join Acclaim as Chief
Executive Officer (CEO) and shareholder.”
TonyjoinedAcclaimin2011asManaging
Director and CEO, bringing 28 years’
experience working with some of the top
global insurance brokers in all classes of
business. His expertise in structuring,
implementing and servicing global and
regional risk solutions for clients in various
industries in more than 20 countries is
unrivalled.
33 years’ service
This year Acclaim celebrates 33 years
in business. One of the largest national
independent risk advisors, insurance and
reinsurance brokers in Singapore, the
Company specialises in risk placement,
claims advocacy, consultancy advice
and risk engineering. In 2015 its revenue
was us $8 million – more than some of
Singapore’s international insurance
brokers.
Over the years, Acclaim has built a
reputation for being ‘positively different
tootherintermediaries’andisrecognised
for its high standards, speedy response,
competitive pricing, high-performing
technologyandclient/claimsmanagement.
ForAcclaim’steam,toppriorityistaking
careofclients.KnownasClientAdvocacy,it
goesbeyondbuildingtailor-madebusiness
solutions to meet clients’ needs, it’s about
delivering a great customer experience,
buildingstrongandpowerfulrelationships
and creating emotional equity.
Another priority is Claims Advocacy.
A process of claims management, rather
than claims handling, gives the team a
competitive advantage. Tony adds his
feedback: “Agility and reinventing the
claims experience are key, claims should
not be seen as a back-end role that does
not add value – they should be positioned
as the value differentiator. And it is in this
areaAcclaimcanboastanumberofcasesof
successfulnegotiationonbehalfofclients.
Acclaim believes its present and future
success depends on the people within.
Attractingandretainingtalentisevermore
important today and it is for this reason,
the Company has embarked on a talent
recruitmentdrive,appointingexperienced
insurancepractitionersinspecialtyareas
suchasagriculture,aviation,construction,
crime, directors and officers, employee
benefits, legal liabilities, marine (hulls
and cargo), political risk, professional
indemnity, property, reinsurance, surety
and bonds and trade credit. Each brings
different experiences of working with
multinational corporations and clients
with regional and global offices.
Last but not least, technology. Like it or
not, it’s a part of our life and one of the key
ingredients for survival in this fast-pace
environment.Asmoreandmorecompanies
expandinternationallyorregionally,staying
connected with clients is imperative.
The one-man dream of
being ‘the best insurance
broker that he can be’, is
now superseded by a shared
dream of the Acclaim team
‘to be a high touch, high tech
leading risk consulting group
in the high value space’.

6. 35
f u l l c o v e r
Tonyexplains:“Customersexpectbrokers
andinsurerstodeliverIT-basedreporting
and analytical tools to enable them to
monitor the performance and progress
of their insurance programmes. Acclaim
is certainly using technology to improve
productivity and enhance efficiency - we
aredevelopingasystemthatenablesclients
to report claims online and monitor their
progress24/7,fromanywhereintheworld,
when it’s convenient for them. They no
longer need to wait for quarterly reports
to study claims trends or conduct risk
management exercises.”
He continues: “This investment in
technologydemonstratesourcommitment
to customer service and will help us and
our regional and global clients in their
external growth strategies. Singapore
has a relatively small domestic market,
so it is no surprise Asia - supported by
the Government signing of free trade
agreements and our membership of the
ASEAN Community – is an area of focus.”
Brokerslink membership –
global reach, local touch
Anthony Lim, Tony Lim and Robert Tan at Acclaim's offices in Singapore.
Over the years, Acclaim
has built a reputation for
being ‘positively different
to other intermediaries’
and is recognised for its
high standards, speedy
response, competitive
pricing, high-performing
technology and client/claims
management.
Membership ensures Acclaim continues
toprovideexceptionalservice.Itenhances
its capacity to design a complete range of
global insurance solutions, co-ordinated
and managed via Brokerslink’s local
partners, and in Tony’s words: “Is just
like a multinational corporation without
having to bear the cost.” Brokerslink also
ensures access to specialised resources in
reinsurance,specializedexpertise,captive
management and modelling.
Sohowdidthispartnershipbegin?Itwas
abitterlycoldmorninginLondonin2006.
ThefirstHeathLambertGlobalConference
wasbeingheldataLondonhotel.Anthony
was having breakfast and couldn’t help
butnoticethehotelanditsrestaurantwas
bustling with people and activities. It felt
unlikely he would be able to connect with
anyone in such a hectic environment,
yet at that moment José Manuel Fonseca
(Brokerslink CEO and speaker at that
conference), could not find a seat at an
empty table, approached Anthony and
asked if he could join him. There was an
immediate connection which continued
throughouttheconferenceandremainsto
thisday.Shortlyafter,JosévisitedAnthony
in Singapore, setting the foundations for
their professional relationship and close
friendship,toapointwheretheyjokeabout
beinglike‘brothersfromdifferentparents’.
At the time, José was Chairman of a
small European Network Brokerslink
and Acclaim was a member of the Asian
brokersAlliancePanAsianAlliance(PAA).
In 2008, PAA, Alinter (a Latin American
broker Network) and Brokerslink merged,
establishing Brokerslink. Anthony says:
“Passionate as he was about the merger
of our networks, José immediately began
planning and strategizing for our shared
future. When I listened to his vision, I felt
sure he was one of those people destined
to make a difference.”
Anthony believes Brokerslink is unlike
other networks: “It’s warm, welcoming and
most importantly, its members possess an
unequalled passion and motivation. As
the saying goes ‘if you surround yourself
with dreamers and creators, the results will
be exponential. Most of our members are
entrepreneurial by nature – they are not
merely wealthy – but all of them are set on
leaving their mark on this world.”

7. 36
M D S m a g a z i n e
ACCLAIM AND MDS – A CLOSE RELATIONSHIP
IN ANTHONY’S WORDS
“I made it a point to attend MDS’s 30th anniversary, to share their
joy and pride. As part of the celebrations, I was invited to conduct
a Leadership Forum for more than 20 MDS leaders over two days.
I recalled how enthusiastic the MDS leaders were – instead of
fixating on their differences, they focused on their strengths and
whattheyhadincommon.Duringourtimetogether,theykeptopen
hearts and open minds and worked on integrating each other’s
point-of-view. This strengthened their resolve and motivation as
a team, paving their way towards success.”
José Manuel Fonseca and Anthony Lim in Sidney
(Brokerslink Asia Pacific Regional Conference, 2016).
ANTHONY LIM
→ Anthony Lim is the Founder and
Executive Chairman of Acclaim.
He started the company in 1982.
→ He is the longest serving elected
President of the Singapore Insurance
Brokers Association since 1997.
→ He was the first person in Asia Pacific
to be elected Chairman of the World
Federation of Insurance Intermediaries
(WFII), serving his term in 2007/08.
→ Anthony Lim has a post-graduate degree
from the Asia-Pacific Executive (APEX) and
a Business Administration MBA programme
from National University of Singapore.
→ He has spoken in many International
Insurance conferences and seminars
globally. He enjoys a good conversation and
is a food enthusiastic.
→ In his free times he loves yachting. He
is Commodore of the Singapore Changi
Sailing Club (CSC) since 2009. Acclaim
Insurance Brokers sponsored the Acclaim
Regatta Event since 2009.
→ He also enjoys restoring heritage houses.
His passion for restoration began when
he set eyes on a dilapidated terrace house
while hunting for a new home in 1988. “It
was dirty, rundown but I saw a lot
of charm and beauty” said Anthony Lim.

8. 37
f u l l c o v e r
Describing another milestone moment,
Anthonysays:“The2013BrokerslinkGlobal
Conference was the network’s second
event taking place in Asia, and Acclaim
had the privilege to play host to delegates
from over 50 countries. The programmes
wereagoodmixofseriousdiscussionsand
uniquelySingaporeandiningexperiences,
which allowed our guests to learn more
aboutourcultureandhistory.Despitethe
manyhappymemorieswemadeduringthe
Conference,mypersonalfavouritewasour
‘sing-along’ session at the final evening’s
Gala Dinner. I looked around and saw all
the partners singing along to music from
our youth, and I marvelled at the fact that
theBeatles,ElvisPresleyandothermusical
iconscanstillbringpeopleofallracesand
backgrounds together. I look back on this
memoryinparticularwithgreatfondness
andI’mgratefultoknowtherelationships
across our organisation, and as friends,
are thriving alongside our businesses.
I believe the mutual trust and reliance
we’veestablishedinBrokerslinkisunique
and will weather the test of time. I have
high hopes for us and look forward to
reuniting with business partners and
friends at our Conference in Amsterdam
later this year.”
Marching onwards
The insurance industry is ever-changing
at an increasing pace. In 2015 alone, there
wereinfiniteacquisitionsandmergersand
an endless restructuring of international
insurers. A situation made more complex
byauthoritiesallovertheworldhardening
regulations. The Chinese have a saying,
translated it literally means ‘big fish eat
smallfish’.Beingsmallisbeingvulnerable
andwhenthebiggetbigger,thesmalllook
even smaller.
Acclaim’s senior management is
acutelyawareoftheneedforindependent
brokerstoofferasimilarrangeandlevelof
technology-based services as the leading
listedinternationalbrokers.Beingapartof
alargernetworkisthewaytoachievethis,
allowingmemberstobecomeshareholders
and providing the central funding and
resourcesneededtodeliverapersonalised,
yet global service.
The one-man dream of being ‘the best
insurance broker that he can be’, is now
superseded by a shared dream of the
Acclaim team ‘to be a high touch, high
tech leading risk consulting group in the
high value space’.
Inthisconnected,highly-competitiveand
complex economy, Acclaim knows clients
are better informed and sophisticated,
so insurance brokers can no longer just
be intermediaries, hoping to generate
revenue through simple insurance
placement. In order to remain relevant
and prosper, they must be high-value
service providers who drive innovation
and collaboration in the industry.
At Acclaim they will continue to do it
‘theirway’.Anthonyconcludes:“Weembark
onlife-longlearningandservicewithallour
heart.Weintegrateourservicedeliveryinto
clients’supplychains,butfirstendeavourto
understandourclients’businessesandtheir
environmentsbeforedesigningtailor-made
insurance solutions.”
Justastheirbelovednation,Singapore,
evolved from a tiny red dot in South-East
Asia(astrugglingseaportinthe1950swith
no natural hinterland or resources) to a
prosperousindependentcountry,Acclaim
hasalsogrownintooneofthemajorplayers
in the Asian market. •
Anthony Lim, Robert Tan, Tony
Lim and José Manuel Fonseca
at Acclaim's 30th anniversary.

9. 38
M D S m a g a z i n e
Singapore
By Anthony Lim
One of the best ways to get to know a city is through the eyes of
its people. Brokerslink member, CEO and Chairman of Acclaim
Insurance, and fine-cuisine lover Anthony Lim is passionate about
Singapore and so was delighted to be able to share his experiences
and enthusiasm for the city with FULLCOVER. He took us on a
tour, discussing its history and pointing out places of interest and
his favourite cafes, bars and restaurants.
IllustrationbyJoséCardoso

10. 39
f u l l c o v e r
ITS HISTORY
Singapore’s story began around 200 years ago
when Sir Stamford Raffles founded the country as
a trading post of the East India Company. When
the Company collapsed in 1874, it became a British
colony. Singapore gained independence in 1963
and joined the Federation of Malaya, Sabah (North
Borneo) and Sarawak in what later became the
Federation of Malaysia. Two years later it declared
independence. Despite its ownership changes
over the past 50 years, Singapore has grown to
become a global commerce, finance and transport
hub; commentators describe it as one of Asia’s
‘economic tigers’.
The country is the classic example of ‘East meets
West’. Traditional Asian buildings sit alongside
modern colonial architecture. Christened a ‘garden
PLACES OF INTEREST
Kampong Glam
Is the stronghold of Singapore’s Malay
and Arab community and recognised
as its ‘beating heart’. See the palace of
Singapore’s aristocratic families, now
a museum, and across the road, on the
renowned Haji Lane, check out the rows
of independent cafes and specialty
stores. Here, you’ll find artisan coffee,
mint, vinyl records, vintage clothing and
knick-knacks from the Himalayas all
within a short distance of each other.
Around the corner, family-owned stores
which have been there for decades line
Arab Street. Here you can customize a
perfume with oils from Turkey, pick up
a handmade wicker-basket or smoke a
Shisha – tobacco mixed with fruit and
molasses sugar.
Admire the mosque at sunset, the
palace of Sultans long past, and enjoy
a cup of the finest coffee in the city –
Anthony promises it won’t disappoint.
city’ (due to the high number of trees lining the
streets), residents and tourists alike are subject
to high standards of discipline and behaviour.
Chewing gum is banned and first-time offenders
caught disposing of gum in a public place or
carrying large quantities can be fined up to
US $1000. Littering also invokes fines – US $300
for first time offenders who throw small items like
cigarette butts or sweet wrappers. Vandalism is
also a serious offence with penalties including
fines, jail and three to eight strokes of the cane.
In Clarke Quay, where women once laboured on
the river, now you will find thriving bars, clubs and
posh eateries sitting alongside historic colonial
architecture, restored antique shops and the
Supreme Court.
Keong Saik
Is a former red-light district and a
stone’s throw from Chinatown. A myriad
of bars and restaurants can be found in
the area’s winding streets, yet the unique
drinking places can easily be overlooked;
hidden away and only accessible if you
know that night’s password.
The Library for example, is a normal
restaurant in the day with fantastic
lunch and dinner set menus, but in
the evening bar entry can only be
gained using a password given out on
Facebook. The password changes daily
so if you are successful, the bouncer
will permit you to enter the bar through
a secret door concealed by a bookshelf.
Singapore’s gems are everywhere.
Be sure to explore what the city has
to offer, and don’t be afraid to ask the
nearest Singaporean. Like Anthony,
they love recommending their personal
favourites to anyone keen on having a
good time!
Tiong Bahru
Is one of the oldest neighbourhoods in
Singapore, yet over the past two years,
chic cafes and bistros have popped up
everywhere, making the area a magnet
for food-lovers. Most notable are PS
Cafe Petit and Tiong Bahru Bakery,
both cult favourites for food and
fashion bloggers around the world.
And in homage to writers, Books
Actually – one of the world’s top
independent bookstores, a pillar of
Singapore’s arts scene and a refuge for
aspiring authors – is located on a quiet
slip road off the main street.
The art-deco inspired buildings,
harking back to the colonial era, share
space with up-and-coming cafes
and independent boutiques. Walking
around the neighbourhood, the
buildings take you through a journey in
time from the 1950s to the 1970s.

11. 4040
Singapore
insurance market:
facts & figures
Singapore is slightly smaller than the US City of Lexington,
Kentucky, or Lake Taupo in Auckland, New Zealand. In June
2015 its population was estimated at 5.54 million, all squeezed
into only 277.6 square miles (719.1 square kilometres).

12. 4141
Its history
Foratinycountrywithfewnaturalresources,theRepublic
of Singapore is an exceptional success story. Last year,
Singapore celebrated its 50th anniversary and while it
doesnotboastarichhistory,itisoneofthemostsuccessful
societies in human history.
When Singapore was expelled from Malaysia in 1965 and
thrust into an unwanted independence, it was a typical
third-worldcountry;percapitaincomewasus$500–atthe
time the same as Ghana’s – and although not desperately
poor, malnutrition was rife. Things however, began to
improve dramatically; its per capita income increased
from the 1965 figure of us $500 to us $56,000 in 2014 - the
highestgrowthreportedbyanynewly-independentnation.
Comparing Singapore GDP per capita with some
developed countries
Today Singapore is the world’s fourth-largest financial
centre, operates one of the busiest container ports in the
world and is the only Asian country to have a AAA credit
ratingfromStandardandPoor,MoodyandFitchRatings.
In just half a century, Singaporeans have become some of
thewealthiestpeopleintheworldwiththehighestnumber
ofmillionairespercapitainAsia.Itisalsooneoftheworld’s
most liveable cities – rated as the greenest in Asia.
One reason for its success is a combination of Singapore’s
strategic position on the major sea route between India
and China, its excellent harbour and free-trade harbour
status (granted by founder Sir Thomas Stamford
Raffles). While Sir Thomas created the framework for
Singapore’s early success, it was Singapore’s forefather
and former Prime Minister, Lee Kuan Yew, who shaped
the first quarter-century of existence as an independent
nation and defined the path to its current success. PM Lee
transformed Singapore from a small struggling island
nation to a thriving metropolis.
Singapore is often referred to as the ‘Switzerland of the
East’. In a National Geographic magazine article - ‘The
Singapore Solution’ - it reports Singapore’s per capita
income of its 3.7 million workers exceeds that of many
Europeancountries,theeducationandhealthsystemcan
competewiththebestintheWest,Governmentofficialsare
prettymuchcorruptionfree,90%ofpeopleowntheirown
homes, taxes are relatively low, the streets and sidewalks
arepristineandyouwillnotfindhomelesspeopleorslums.
Singapore also boasts an unemployment rate of less than
3%. Having achieved so much, in such a short time, this
growthhasoftenbeenreferredtoasaneconomicmiracle.
The following table summarises Singapore’s
achievements.
C O U N T R I E S / G D P
P E R C A P I T A ( I N U S D )
1965 2014
Singapore 516 56,285
Switzerland 2,621 85,594
United States of America 3,665 54,630
United Kingdom 1,851 46,332
Japan 920 36,194
Source: The World Bank 2014.
A C H I E V E M E N T S I M P L I C A T I O N S
Second most important
global container port.
Strategic location, supporting
infrastructure and technologies.
City with the best
investment potential.
Favourable operating conditions,
strong diplomatic ties, a stable
political and economic climate
creating an ideal environment to
invest in.
Second most
competitive city in the
world.
The best in Asia due to its;
lack of corruption; Government
efficiency and global financial
market development.
Best global innovation
in Asia Pacific and the
world.
The best performing Asian
country ahead of Hong Kong,
Korea and Japan. Excels in
Institutions, human capital,
research, infrastructure and
business development.
Top of Business
Environment Risk
Intelligence’s Labour
Force evaluation
measure.
Proven to have a consistently
productive and skilled labour
force, making a conducive
environment for business
growth.
Second in world for
best labour/employer
relations in Asia.
Workplace relationship between
employee and employer is the
best in the region.
Source: Economic Development Board of Singapore 2016.

13. 42
M D S m a g a z i n e
42
M D S m a g a z i n e
The insurance market
Singaporeishometokeydecisionmakers-itisthebasefor
numerous multinational corporation headquarters, over
70 insurance brokers and four out of five global brokers
have regional hubs here.
The Government has an ongoing commitment to
marketplace development; it is establishing research
institutionstogatherandanalysedatainspecificareasof
risk,isactivelypromotingSingaporenotjustasastrategic
location, but also as a centre of excellence for innovation,
and has set up a Talent Development Framework (a
partnershipbetweentheMonetaryAuthorityofSingapore
(MAS)andtheinsuranceindustry)andaGlobalInternship
ProgrammetoensureSingaporeremainsattheforefront.
Market breakdown
Asia’s changing insurance landscape
The insurance landscape is constantly evolving and
contributors to this include: sluggish economic growth,
softening rates and rising claims (pressurising under-
writing results), a low interest rate environment
(suppressing investment returns) and as the world shifts
towardsrisk-basedregimessuchasSolvencyII,regulatory
andcapitalrequirementsarebeingtightened.Atthesame
time, the growth potential has never been better. Much
of the world remains under-insured and in Asia, the
prospects are especially bright. The Asian risk landscape
istransformingrapidly,generatinganincreasingdemand
for insurance and reinsurance.
A bright future
Atthe12thSingaporeInternationalReinsuranceConference
on6November2013,RaviMenon,ManagingDirector,MAS,
said:“Overthenextdecade,theinsurancebusinessinAsia
isprojectedtogrowatabout8%perannum.By2020,Asiais
likely to account for almost 40% of the global market.” He
listedthreecontributorygrowthfactors:Asiaisgrowing,Asia
ishighlypronetonaturalcatastrophesandAsiaisageing.
As the leading insurance centre in Asia, Singapore is well
placed to serve the burgeoning insurance needs of the
region. The insurance industry is one of the brightest
stars in the constellation of Singapore’s financial sector.
Notsurprisingly,in2015,theEconomicDevelopmentBoard
of Singapore reported ‘businesses headed to Asia will do
well to tap into Singapore’s prime geographic location in
the heart of the region, global connectivity and business-
friendlypolicies.Itisthenumberonechoicefortheworld’s
topglobalcompaniesintheindustrialgoodsandservices
sector and among the top five for media and financial
services companies.”
Singapore is also a member of the ASEAN1
Economic
Community (AEC). The establishment of AEC in 2015 is a
majormilestoneinASEAN’sregionaleconomicintegration
agenda,offeringopportunitiesintheformofahugemarket
ofus$2.6trillionandover622millionpeople.In2014,AEC
wascollectivelythethirdlargesteconomyinAsiaandthe
seventh largest in the world. The AEC is working together
on a comprehensive insurance liberalization framework.
MAS in 2013 reports ‘insurers can expect to benefit from
easier cross-border provision of services and substantial
accessacrosstheASEANcustomerbasefromofficesinany
ASEAN member country’.
The country is therefore, well positioned to become the
Asian insurance hub and is predicted by MAS to be the
nextglobalhub(besidesLondon)in2020.Astheexclusive
SingaporememberintheBrokerslinknetwork,Acclaimis
well-placed to act as the conduit and work with partners
who are keen to gain leverage from this global insurance
market position. •
1 Association of Southeast Asian Nations
Y E A R 2 0 1 4 G R O S S
P R E M I U M
( I N S G D )
I N C U R R E D
L O S S R A T I O
Singapore Insurance Fund US $3.850B 48%
Offshore Insurance Fund* US $7.918B 51.7%
*International / Regional Business coming into Singapore
Source: Monetary Authority of Singapore.