MSIG Asia mourns the passing of Ramaswamy Athappan, CEO of MS First Capital

24 May 2024

MSIG Asia is deeply saddened by the unexpected passing of Ramaswamy Athappan, CEO of MS First Capital Insurance Ltd (“MSFC”), on 22 May 2024. The revered and visionary leader left behind a legacy of integrity, excellence and unwavering dedication. MSFC is an affiliated company of MSIG Asia Pte Ltd.

In the wake of this unforeseen event, the management team of MSFC remains steadfast in their commitment to uphold the company’s operations, ensuring continuity and stability during this challenging period.

“Our hearts weigh heavy with the sudden departure of Mr. Athappan, whose passion, wisdom, and leadership had been a beacon of inspiration for colleagues, clients, and partners worldwide. It was a privilege to have known and worked alongside Mr. Athappan,” expressed Clemens Philippi, CEO of MSIG Asia. “The thoughts and prayers of the entire MSIG family are extended to Mr. Athappan's loved ones during this difficult time. His memory will continue to inspire and guide us as we honour his remarkable legacy.”

About MS First Capital

MS First Capital Insurance Limited (“MSFC”) has been a significant player in Singapore's insurance industry for over 70 years. Originally established as The Public Insurance Company Limited, the company underwent acquisitions and name changes, eventually becoming MS First Capital Insurance Limited in 2018 after being acquired by Mitsui Sumitomo Insurance Co Ltd. In Singapore, MSFC’s affiliated companies include MSIG Insurance (Singapore) Pte Ltd and MSIG Asia Pte Ltd, as part of the MS&AD Insurance Group. MSFC offers a diverse range of non-life insurance products, including personal and commercial lines, with a particular emphasis on marine hull insurance. The company has earned an 'A (Excellent)' financial strength rating from A.M. Best Company, reflecting its stability and reliability.