Investment by Singapore-based Huntington as Pana Harrison continues its growth strategy
Singapore, 24th January 2019 — The Huntington Group (“Huntington”) has announced that it is making an investment in Pana Harrison (Asia) Pte Ltd (“Pana Harrison”), one of Singapore’s largest, independent (re)insurance brokerage firms. Following the transaction, Huntington will be Pana Harrison’s largest institutional shareholder, while the company’s management will continue to manage and own a majority stake in the firm.
“Pana looks forward to partnering with The Huntington Group as we enter this exciting new stage in our growth strategy,” said Ronnie Lum, CEO and Chairman of Pana Harrison. “Huntington has a proven track record of investment success in our industry. Their combined financial strength and market expertise will be a significant asset to Pana as we move forward.”
“Pana is one of the Singapore’s leading (re)insurance brokerage platforms, with proven leadership, broad industry reach and operational strength,” said Gerard L Pennefather, CEO and Chairman of Huntington. “We embrace the opportunity to work alongside Pana in facilitating its continued growth and expansion. Pana is the premier local, independent (re)insurance brokerage business with industry-leading organic growth. We are looking forward to assist Pana’s Board with strategic insights on opportunies and challenges as the company embarks on its next phase of growth.”
Financial terms of the transaction were not disclosed.
About The Huntington Group
Based in Singapore, Huntington and its associated companies form part of the family office of Gerard L Pennefather. It is an integrated strategic advisory/start-up capital and private equity firm focused on (re)insurance with investments in numerous companies in the sector globally.
About Pana Harrison (Asia) Pte Ltd
Pana Harrison is a general (re)insurance broker, a registered Lloyd’s Broker and exempt financial adviser. Established in 1980 as a joint venture with the Harrison Horncastle Insurance Group (UK), Pana Harrison is licensed and supervised by the Monetary Authority of Singapore and is represented throughout Asia.
The Huntington Group
Cheung Ngai Kay
Pana Harrison (Asia)