First Capital is owned 98% by Fairfax. Based in Singapore, it writes property and casualty insurance primarily to Singapore markets. In 2015, First Capital's net premiums written were SGD184.8 million (approximately SGD1.33 = US$1). At year-end, the company had shareholders' equity of SGD578.1 million and there were 154 employees.
First Capital is engaged in writing both personal and commercial lines of non-life insurance business across various classes such as Fire, Engineering, Marine Cargo, Marine Hull, Bond, Professional Indemnity, Motor, Public Liability, Workers’ Compensation, Personal Accident and other Miscellaneous Accident insurance business. First Capital is a leading underwriter of Marine Hull insurance in the region and this class of business forms a significant segment of the Company’s well balanced overall business portfolio.
First Capital is led by the Chief Executive Officer, Mr. Ramaswamy Athappan. Mr. Athappan has been with Fairfax since 2006.
6, Raffles Quay, #21-00
See www.first-insurance.com.sg for more information about First Capital.
First Capital has a financial strength rating of “A” (Excellent) by A.M. Best.