Honan Asia gets green light for Singapore acquisition

Transition expected to complete over the next two months

Honan Asia gets green light for Singapore acquisition

Insurance News

By Paul Lucas

It’s all systems go for Honan Insurance Group’s acquisition of Singapore-based employee benefits business NGA Benefits.

The insurer has picked up approval from the Monetary Authority Singapore (MAS) and during the next two months NGA’s 28 staff are expected to head to Raffles Place to join the Honan team. It is expected that the full transition will be completed over the next two months.

According to Damien Honan, the CEO of Honan Insurance Group, the focus during this period will be on ensuring that the experience is as seamless as possible for clients.

“We are committed to ensuring our clients receive the same level of excellent service they are accustomed to,” he said. “Our teams in Australia and Singapore are mobilising resources and working hard behind the scenes to ensure minimal disruption throughout the transition.”

A release outlined that the NGA acquisition is part of an ongoing investment in South East Asia within a wider growth strategy for the next three years.

Related stories:
Honan Insurance Group announces Asian acquisition
Honan Group leader backs Asian expansion

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