Insurance firm Aspen is to expand into Singapore.

The firm’s Aspen Insurance will enter the market in the Asian city state through Aspen’s Lloyd’s syndicate on the Lloyd’s Asia platform.

Ann Haugh, president of Aspen International Insurance and chief operating officer of Aspen Insurance, said: “In Singapore we will continue to deliver the highest standards of underwriting and customer service for which we are known, offering expertise to clients and brokers locally.

“We look forward to engaging with brokers and focusing on the opportunities created by our closer proximity to existing and new clients.”

The Singapore operation will concentrate on onshore and offshore energy, marine hull, accident and health, terrorism, financial and corporate risks, professional indemnity, technology, data protection and cyber, credit, and political risk.

The new business, which will get off the ground at the start of next year, subject to regulatory approval, will be headed Yann Marmonier, who is joining Aspen as principal officer and managing director.

Mr Marmonier was previously Singapore country manager with XL Catlin.

He will be joined by another ex-XL Catlin man, Paul Hackett, who will be Aspen’s head of marine.

Ms Haugh said: “Yann and Paul have proven experience and strong track records in developing businesses in Singapore and I am delighted that they are joining Aspen Insurance at this exciting time.”