SXG Underwriting Limited (Specialty X Global), the newly established managing general agent (MGA) of Simon Global Insurance Group, has also been approved as a Lloyd’s underwriter.
Specialty
It also enables MGA to provide flexible and tailored solutions for complex risks, supported by the strong regulatory framework and reputation of the Lloyd’s market.
In addition, SXG represents the first MGA and Lloyd’s underwriter platform established by a Korean brokerage group, marking a major milestone in expanding professional underwriting capabilities in Asia.
MGA will initially focus on underwriting healthcare liabilities, covering medical malpractice and life sciences risks such as pharmaceutical liability and clinical trial liability.
It will also underwrite general liability and other specialty risks, providing comprehensive solutions for businesses operating across industries.
Simon Oh, group chief executive (CEO) of Simon Global Insurance Group, said: “The establishment of SXG Underwriting Limited is an important milestone in our strategy to expand our specialist insurance capabilities and build a stronger presence in the Lloyd’s market.
“As our first MGA investment, SXG demonstrates our commitment to developing underwriting expertise and delivering enhanced solutions to clients in Asia. We see strong long-term growth potential and remain committed to supporting SXG’s development into the region’s leading specialist MGA platform.”
Dong Woo Lim, CEO of SXG Underwriting Limited, added: “We are building more than just an MGA, we are creating a platform for the future of specialist underwriting in Asia. By combining Lloyd’s global strength with deep regional expertise, we aim to redefine the way complex risks are underwritten and delivered to the market.
“Our goal is to be a trusted partner to brokers and clients, bringing speed, flexibility and innovation to the evolving risk environment, while delivering disciplined and sustainably profitable portfolios to our capacity providers.”
