Insurance broker g&m acquires ANDA from Marsh Singapore

SINGAPORE, Sept. 1: g&m Pte Ltd, a local insurance broker offering advisory services for retail segments of insurance in Singapore, announced today that it has reached an agreement to acquire ANDA Insurance Agencies Pte Ltd, a leading provider of domestic helper and motorcycle insurance, from Marsh Singapore. "ANDA's product line complements g&m's group business and this timely acquisition aligns with our efforts on business growth, digitalization and consolidation," said Douglas Chia, Group CEO of g&m. In spite of the global pandemic, domestic demand for domestic helpers and foreign workers has continued to grow. Coupled with major delays in development projects, the re-opening of borders will likely lead to a surge in the demand for both domestic helpers and foreign workers. "With the huge shift to digitalization in a post-COVID-19 world, many companies have started restructuring their businesses," said Douglas. "Prior to the new normal, g&m had already been gearing up our business model for growth and scalability, ensuring that we are also better positioned to serve the retail segments of insurance." After the acquisition, g&m Pte Ltd and ANDA Insurance Agencies Pte Ltd will both operate independently as an insurance broker and agency respectively. In line with future expansion plans, g&m will continue to seek out suitable acquisition opportunities in both the insurance broking and agency space. About g&m Pte Ltd As a leading insurance broker with over 40 years of industry experience, g&m is transforming the way that Singaporeans access insurance by offering professional advisory services for quick and fuss-free insurance solutions to match their needs. Using its deep access into pricing and products from Singapore's leading insurers, g&m is effectively able to match customers with the best policy at competitive prices. Covering a holistic suite of general insurance products including commercial, motor, health and lifestyle, g&m strives to remove the complexities and technicalities surrounding insurance to provide businesses and individuals access to a no-hassle approach through their insurance delivery journey. To learn more about g&m, visit http://www.gnm.com.sg.