Richard Lim Ngak Kwan to head expansion in Asia market

Hardy Underwriting Bermuda has appointed Richard Lim Ngak Kwan to head up Hardy's proposed new underwriting venture in Asia.

He will be managing director of Hardy Asia and Hardy will seek approval from Lloyd's and the Monetary Authority of Singapore (MAS) for him to act as Hardy's principal officer.

Hardy will shortly be making an application to the MAS and to Lloyd's to establish its underwriting operation within the Lloyd's Asia platform. It plans to begin underwriting with Hardy Asia by December.

Treaty and property experience

Lim Ngak Kwan, 49, has extensive underwriting and management experience both in the Singapore and wider Asia Pacific markets, primarily as a property treaty underwriter, although he has also underwritten facultative property business and other classes.

He will lead a team of underwriters from the Singapore market and from Hardy's London operations who will be seconded to the office periodically.

Hardy Asia will start by writing and leading treaty business from the Asia Pacific region (excluding Japan) on both a proportional and non-proportional basis.

Property treaty business, which is expected to make up the core of the account, will be underwritten as a part of Hardy's overall property treaty account, led in London by David Carson.

Act locally

Barbara Merry, chief executive, said: "Richard's arrival at Hardy embodies our stated philosophy of thinking global whilst acting local. We are delighted that he will be leading our development in the region which we are certain will be of increasing significance in the coming years."