OREANDA-NEWS. August 03, 2011. Marubeni Corporation is proud to announce the establishment of a new reinsurance broking firm in Singapore. The new company, Marnix Insurance Brokers Asia Pte Ltd (“MIBA”) is 100% owned by the Marubeni Group which recently became a licensed reinsurance broker approved by the Monetary Authority of Singapore. Together with Marnix Corporation in Tokyo and Marnix Europe Ltd in London, Marubeni now has insurance broking entities in three major reinsurance markets, Marubeni Corporation.

The Marubeni group of companies traditionally provides insurance broking and risk consulting services to Japanese companies worldwide, primarily in the electric power, infrastructure, and energy sectors.

Along with rapid economic growth in the ASEAN countries, the reinsurance market in Singapore is of major strategic importance for both reinsurance brokers and reinsurance companies in the ASEAN region. MIBA and the other Marnix companies will use this opportunity to form strong relationships with reinsurance companies in Singapore and enter fully into the reinsurance broking business in the ASEAN region.

MIBA has long recognized the potential of this dynamic market and as such is seizing the opportunity to become the first reinsurance broker in Singapore to be fully owned by a Japanese company.