BenjaminTeo_Right(Grey) - SX Edited1.png (1)

Benjamin Teo

Partner

Practice Area:

Insurance & Reinsurance

LLB, Singapore Management University (cum laude)
Advocate & Solicitor, Supreme Court of Singapore

T +65 6232 0366
E benjamin.teo@rajahtann.com

Benjamin joined the firm in end-2011 after graduating from Singapore Management University, where he was placed on the Dean’s List. Benjamin has been practising in the Insurance & Reinsurance department since, and has acted for and advised numerous insurers, insurance brokers, and financial advisers in regulatory, M&A and disputes matters.

Experience 

In relation to regulatory matters, Benjamin has advised and acted for Singapore and overseas insurers and insurance brokers on the setting up of insurance business in Singapore, ongoing regulatory compliance requirements, insurance business portfolio transfers, and the M&A of Singapore-incorporated insurers and insurance brokers. Benjamin also frequently advises various major banks (both Singapore and overseas-based) on legal issues relating to insurance premium financing.

For disputes-related matters, Benjamin has advised and acted for various insurers in Singapore on a range of policy disputes and/or defending third party claims in relation to various classes of insurance, such as Fire, Workmen Compensation, Contractors’ All Risks, Directors’ & Officers’ Liability, Public Liability, and Professional Indemnity.

Notable Cases & Transactions
Regulatory and M&A
  • Acted for Swiss Re in relation to its transfer of registration to Singapore in the first ever re-domiciliation of a foreign entity to Singapore under the 2017 amendments to the Singapore Companies Act.
  • Acted for AXA in the consolidation of its life and general insurance business via a Scheme of Transfer of AXA Insurance Singapore Pte Ltd’s general business to AXA Life Insurance Singapore Pte Ltd.
  • Acted for the Liberty group in the 2015 restructuring of its Singapore branch and transfer of its insurance business to a locally incorporated entity Liberty International Underwriters Pte Ltd (“LIU”), and also the 2019 consolidation of the Liberty Specialty Markets Bermuda Singapore Branch into LIU (arising out of the Liberty group’s acquisition of the Ironshore group of companies).
  • Acted for Euler Hermes SA in the restructuring of its Singapore business by a portfolio transfer of the Singapore Business from Euler Hermes Deutschland Aktiengesellschaft Singapore Branch to Euler Hermes SA Singapore Branch.
  • Acted for XL Insurance Company SE and Catlin Insurance Company Ltd in the consolidation of their respective Singapore insurance business via a Scheme of Transfer that was confirmed in the High Court of Singapore.
  • Acted for Cosmic Insurance Corporation Limited in the sale and transfer of its runoff insurance portfolio under a Scheme of Transfer confirmed in the High Court of Singapore.
  • Advised and acted for various multi-national (re)insurance groups in relation to acquisition of substantial shareholdings and/or effective control of locally incorporated insurers and insurance brokers in Singapore.
  • Advised multiple insurers (ranging across life, general, marine mutual, captive) and insurance brokers in relation to compliance with insurance regulatory framework and corporate governance in Singapore.
  • Advised multiple insurers (including life, direct, and marine mutual) and insurance brokers with successful applications across various types of business and fin-tech models to the Monetary Authority of Singapore for licences to conduct insurance-regulated activities in Singapore.
  • Advised on the South East Asian Disaster Risk Insurance Facility –an ASEAN regional disaster risk and insurance framework.
  • Advised on issuances of catastrophe bonds in Singapore by Orchard ILS Pte Ltd and First Coast Re II Pte Ltd.
  • Advised on legal and security issues in relation to assignment of universal/variable life insurance policies as collateral.
Disputes
  • Acting for a financial adviser in a High Court claim against its ex-representative for unreturned allowances.
  • Advised and acted for an insured in a defamation suit with alleged damages of more than $1 million arising from an academic publication.
  • Acted for a life insurer in relation to allegations of fraudulent misconduct by its agent with regard to the insurer’s policyholders.
  • Defending an insured against allegations of nuisance and escape of dangerous material arising from an industrial estate fire.
Memberships/Directorships
  • Member, Law Society of Singapore
  • Member, Singapore Academy of Law
Publications
  • Contributing Author, “Technology in a Changing World”, Wee Kim Wee Centre (2009)