Fairfax Asia chairman Ramaswamy Athappan passes away

VETERAN insurer Ramaswamy Athappan (picture), chairman of Fairfax Asia Ltd which wholly-owns Pacific Insurance Bhd, passed away in Singapore on May 22.

Ramaswamy was a leader of incredible vision, charisma and knowledge whose work has impacted countless lives, according to a social media entry by Pacific Insurance.

Fairfax Asia is wholly-owned by Toronto-based Fairfax Financial Holdings Ltd.

Pacific Insurance had its roots going back to the 1950s when it was the Malayan business arm of The Netherlands Insurance Company. In March 2011, it was taken over by Fairfax Asia.

In April 2021, Fairfax Asia took over Singapore Reinsurance Corp Pte Ltd, where Ramaswamy was the non-executive chairman.

Fairfax is engaged in general insurance and reinsurance business across the globe, through its subsidiaries that operate in more than 100 countries, with equity of more than US$15.1 billion, assets in excess of US$53 billion and revenue of more than US$23.8 billion as of end 2021, according to its website. — TMR