SWRM was established with the support of the Singapore Shipping Association (SSA) and started underwriting on 20 February 2015.
Mr Patrick Phoon, president of the SSA, said, “The idea was first mooted by the SSA with the aim of strengthening Singapore’s offerings in the marine insurance sector to boost our status as an international maritime centre. Having invested a lot of time and effort on this project, I am pleased to see its fruition – Singapore now joins the ranks of other leading maritime nations to have its own dedicated war risk facility. Our shipowners will get to benefit from flexible coverage and more control over their war risks insurance cover at competitive rates.”
The first Singapore based mutual war risks insurer.
Giving shipowners greater control over their war risks insurance.
Singapore Shipping Association
Established for SSA members and to enhance Singapore’s maritime cluster
SWRM rules or standard market wordings such as Institute War and Strikes Clauses or Nordic Marine Insurance Plan.
Competitive rates for ships trading anywhere in the world.
"A" Rated Security
“A” rated as a class of Standard Asia, but no need to insure non war P&I with Standard Asia.