Insurance giant Lloyd’s of London, a world-class company in business for several hundred years, is to be purchased in its entirety by the Ng’s of Singapore. The Ng family has amassed quite a fortune in the local insurance industry, and plans are underway for expansion. This is yet another example of how Singapore is slowly overtaking major world cities such as New York City, London, and Paris to become the new “capital of the world”. The only setback to the transaction is that most people around the world are unable to pronounce the name “Ng” and wrongly believe that it is a misspelling of some other name. It is unknown at this time whether Ng’s of Singapore will be as successful as its predecessor.
Lloyd’s of London to be bought out by Ng’s of Singapore