Bermuda-based Axis Specialty Ltd. yesterday announced that it had been approved to start writing general insurance business in Singapore.

The company, an operating subsidiary of Axis Capital Holdings Ltd., has had a representative office in the Asian city-state since 2004.

Axis chief executive officer John Charman said: "Our senior management and underwriters have very strong ties to the Asia-Pacific region.

"We are looking forward to bringing our extensive experience, reputation and specialised capabilities to bear as we establish our Singapore branch office to provide customised coverage solutions for both local and multinational clients.

"We expect our Singapore branch to enhance the position of the Axis franchise in the global insurance and reinsurance marketplace."

Axis Specialty's Singapore branch is licensed to provide insurance and reinsurance domestically and internationally.