Honan Insurance Group has acquired Singapore-based NGA Benefits, an employee benefits consulting and insurance intermediary and administrator that also has operations in neighbouring Malaysia.

The Singapore-based company is a subsidiary of UK-based global payroll and human resources outsourcing company NGA Human Resources.

“NGA Benefits Singapore is a broker with a well-earned reputation in employee benefits expertise,” Honan CEO Damien Honan said.

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

The acquisition is subject to approval from the Monetary Authority of Singapore, the island state’s financial regulatory authority.