Ikatan Asia Pacific started in 1987 as Asia Pacific Reinsurance Brokers Pte Ltd, a Singapore-Australian joint venture. The original intent was to operate as the wholesale arm of its main direct broking shareholders. Working with insurance retail inspired the Company to dedicate itself to insurance product development and portfolio building.
In 1991, Singaporean insurance retailer, Cosmic Insurance Corporation Ltd, bought an 18% share in the Company, seeing it as an investment in a dynamic sector of the insurance market and a move towards reverse integration.
A year later, a UK listed insurance brokerage acquired 51% majority stake in the Company and it was renamed PWS Asia Pacific Reinsurance Brokers Pte Ltd.
In 1997, Team Ikatan formed a management buy-out vehicle, Ikatan Resources Pte Ltd to acquire the 50.25% controlling stake in the Company. Cognizant of its South East Asian portfolio, the Company was renamed Ikatan Asia Pacific Reinsurance Brokers Pte Ltd.
Ikatan Asia Pacific is today a Singapore-based reinsurance intermediary and consultant. Ikatan works for insurance retailers and intermediaries on single risks, risk portfolios and risk containment projects.
Courtesy posting by NextLifeBook.com
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