Starr Insurance acquires Thai non-life insurer

The transaction is expected to close in the second quarter of 2022.

Starr Insurance Companies has announced its agreement with FPG Insurance Holdings Ltd. (HK) and local Thai shareholders to purchase FPG Insurance Public Co. Ltd. (FPG Thailand), a non-life insurance company in Thailand.

Starr’s investment will be held by its Bermuda insurance subsidiary, Starr Insurance & Reinsurance Ltd. The transaction is expected to close in the second quarter of 2022, subject to regulatory approval.

Starr said it expects to strengthen local product offerings with tailored commercial insurance and accident & health (A&H) products and plans to further maximise its growth by recruiting and developing local Thai insurance talent.

The operation’s headquarters are expected to remain in Bangkok.

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