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ACE unveils new public offering securities insurance in Hong Kong, Malaysia and Singapore

ACE Group, a multiline property and casualty insurer, has rolled out its elite II Public Offering of Securities Insurance (POSI) in Hong Kong, Malaysia and Singapore.

It has been designed to shield the company, the directors, management, and shareholders of companies against potential claims or investigation during road shows or for documentation related to the offering of company securities or debts.

Launched in response to rising regulations and shareholder demands, the POSI also offers coverage to the Initial Public Offering (IPO) sponsors and underwriters indirectly depending on the indemnification provision in the underwriting agreement.

The single premium multi-year policy delivers extended coverage and relevant latest extensions, including but not limited to the cover for data protection and privacy breach, offering delay or cancellation costs and secondary offering among others.

ACE Asia financial lines manager Stanley Wong said, "Stock exchanges in Hong Kong, Singapore and Malaysia are some of the most active in Asia and will likely continue as IPO activity is expected to intensify."

The POSI will help address & transfer risk exposure of the company, directors, management and shareholders of companies, which is a key element of the public offering process, Wong added.

ACE has business operations in 53 nations globally and caters an array of commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.