We hold professional indemnity insurance through Liberty Mutual Insurance, which provides protection for the insured and employees against their legal liability towards clients and/or third parties for their professional negligence in the event of a financial loss.The coverage is up to USD 5,000,000 or or its equivalent in any foreign currency.
Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the United States. It ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue. Based in Boston, Massachusetts, and featuring the Statue of Liberty (formally Liberty Enlightening the World) on its logo, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2021, Liberty Mutual Insurance had $156.043 billion in consolidated assets, $128.195 billion in consolidated liabilities and $48.2 billion in annual consolidated revenue.
We are required to submit regular audits in order to ensure that we meet the stringent regulatory requirements on our capital adequacy ratio and industry standards.The external audits are conducted by Mazars.
Mazars is a top 10 global audit, accounting and consulting group employing more than 42,000 professionals in more than 90 countries through member firms.With head offices in Paris,France, Mazars has a network of correspondent partners and joint ventures in a further 21 countries and is a founding member of the Praxity alliance, a network of independent firms.
We bank with HSBC and Barclays to segregate client funds, both of which are AA credit rating and top tier-1 banks across the world.
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the second largest bank in Europe behind BNP Paribas, with total equity of US$206.777 billion and assets of US$2.958 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA), respectively.HSBC traces its origin to a hong in British Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991; its name derives from that company’s initials.The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866.
HSBC has offices in 64 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 40 million customers.As of 2020, it was the world’s sixth largest bank by total assets and market capitalisation. HSBC was the world’s 40th-largest public company, according to a composite measure by Forbes magazine.
Barclays is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services.
Barclays traces its origins to the goldsmith banking business established in the City of London in 1690.
Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange. It is considered a systemically important bank by the Financial Stability Board.According to a 2011 paper, Barclays was the most powerful transnational corporation in terms of ownership and thus corporate control over global financial stability and market competition, with Axa and State Street Corporation taking the 2nd and 3rd positions, respectively.Barclays operates in over 40 countries, employs over 80,000 people and is the fifth largest bank in Europe by total assets.