PROFILE OF COMPANY
We are a Singapore-based Reinsurance Broking Company which commenced operations since November 1982.
Pana Harrison was originally a joint venture between Pana Group Singapore and Harrison Horncastle, a leading Lloyd's Insurance and Reinsurance Broker.
Due to major changes in Harrison Horncastle in 1985, the Pana Group bought back their shares and since then it has become an Independent Entity with Singapore as its Head Office.
Pana Harrison's major shareholder is the Pana Group which belongs to the Family of Mr A H Lum. Other shareholders comprise of the Company's Directors and Officers.
TERRITORIES
Our business are from the Asian region with major markets spread evenly among Singapore, Taiwan, Philippines, Brunei, Indonesia, Pakistan, Hong Kong, Malaysia, Thailand and other countries in Asia. Also some contribution from Egypt, Saudi Arabia, Iran, Sudan, etc.
PORTFOLIO
We broke all classes of Non-Life reinsurance business consisting of Treaty - Proportional and Non-Proportional and also Facultative business. Our portfolio consists of Proportional - 35%, Non-Proportional - 25% and Facultative - 40% which breaks up of 60% on Non-Marine and 40% on Marine and Aviation business. The overall premium turnover is in excess of S$50 million.
MANAGEMENT
We have well qualified and experienced Board of Directors and Executive Officers with many years of experience in reinsurance operations. Our staff strength is 25 and we occupy a floor space of 3,000 sq ft in Singapore.
PLACEMENT MARKET
Our business are mostly placed within the Asian market with support also from Australia, Europe and London.
For major project where there is a need for capacity, we use our correspondence who are reputable companies in London.
CORPORATE POLICY
We adopt a conservative approach for expansion and development with emphasis on providing a high quality of service and fast turnaround time on placement and prompt settlement especially Cash Call. This enables us to build up a solid foundation in our region for the future.
Presently, we are looking forward to establish our office in Kuala Lumpur, Malaysia and Phnom Penh, Cambodia.
We are looking for expansion on our placement to the European markets especially on the major projects or high value risks. We are constantly on the look-out for new market to support the expansion of our portfolio.
We believe this has been and will continue to be the proper and responsible manner to serve our clients and reflect their trust and confidence on us.
FUTURE STRATEGY
With the expected strong economic growth in the East and South Asian and especially the South East Asian Nations (ASEAN) for 1997 and the coming years, we will continue to concentrate more on these Areas where we are based and most knowledgeable.