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by: Honan Marketing

Honan Insurance Group announces proposed acquisition of NGA Benefits, a Singapore based Employee Benefits business.

Honan Insurance Group is excited to announce the proposed acquisition of NGA Benefits; a leading employee benefits consulting, insurance intermediary and benefits administration company operating throughout Singapore and Malaysia.

NGA Benefits is a subsidiary of NGA Human Resources, a global payroll and human resources outsourcing company based in the United Kingdom. NGA Benefits clients’ include Fortune 500 multinationals and large local companies in the Asia Pacific region.

The move is part of Honan’s continuing investment in South East Asia. It follows the purchase of Singapore based general insurance and employee benefits brokers MACS Insurance Brokers in 2015.

Damien Honan, CEO of Honan Insurance Group, said:  “NGA Benefits Singapore is a broker with a well-earned reputation in Employee Benefits expertise. Their professionalism and dedication to providing exceptional service is strongly aligned to Honan’s approach.”

“NGA Benefits will enhance our capabilities across the region and provide an excellent proposition in Asia for our international broking network partners.”

Rachel Wee, CEO of NGA Benefits Singapore, said: “Joining Honan is an important step for NGA Benefits Singapore as we build our value proposition to all our existing and new clients across the region. It supports the expansion of our service offering to include the full range of General Insurance products and services. My team and I look forward to being part of an entrepreneurial and forward looking business.

The acquisition is subject to regulatory approval from the Monetary Authority of Singapore (MAS).