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Jul 2017 Beazley, Chaucer and Talbot, three major Lloyd’s syndicates, have announced the establishment of a consortium dedicated to political risks in Asia. Based in Singapore, this pool provides coverage of up to 130 million USD for individual risks. It also covers companies against operating losses and other investment-related risks in politically unstable areas. Material damage resulting from wars, property confiscation and defaulting payments stand among the plans provided by the consortium.
It is noteworthy that Singapore financial center is regarded as Lloyd’s biggest commercial center behind London. In 2015, the premiums generated by this entity amounted to 680 million USD.
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