Honan has entered a partnership with Kuala Lumpur-based MP Insurance Brokers to build its presence in Malaysia, as it expands in the Asia-Pacific region.

The new business, to be known as MP Honan Insurance Brokers, will work with clients on addressing and managing their individual and business risk protection needs.

Honan already has offices in Singapore and Malaysia and is part of the World Broker Network of independent local firms. The company this year created a new position of director of operations – Asia.

MP Insurance Brokers was established in 1976 and is led by Saw Kheng Lay, who will also be CEO of the joint venture

“The combination of their knowledge of the Malaysian marketplace combined with our global resources and access to World Broker Network…will give MP Honan Insurance Brokers significant capacity to offer an enhanced and broader service offering,” Honan CEO Andrew Fluitsma said.

Honan will have a 49% stake in the joint venture and will continue to operate Honan Malaysia as a separate entity.