American Insurance Broker, Varas Brokers enters into a strategic MOU with the iconic SAG Group of Malaysia

2 people shaking hands as symbol of partnership

American Insurance Broker, Varas Brokers enters into a strategic MOU with the iconic SAG Group of Malaysia

RAMSEY, NJ, UNITED STATES, August 23, 2021 / — Varas Brokers of US and SAG Group of Malaysia have signed a strategic MOU to work with each other in developing opportunities within the Malaysia-US insurance space. Both companies shall support each other’s clients in their respective countries and help grow the market further.

The agreement was signed by Ms. Monica Varas, Founder & CEO of Varas Brokers, and Mr. Chong, Managing Director of SAG Premier.

Established in 2019-20, Varas Brokers was set up in New Jersey by Ms. Monica Varas, a veteran of the US Insurance sector for nearly 30 years with deep experience across all product lines in P&C Insurance. Varas is keen to support insurance requirements in international trade, credit insurance, and other related areas.

SAG Group is the largest insurance agency in Malaysia

Over the past few decades, the US and Malaysia have enjoyed deep trade relations which have only been bolstered over the last few years. Currently, Malaysia is the US’s 19th largest trading partner with close to US$ 55 billion of trade.

“What a great accomplishment for VIB to be able to work with SAG Group. This will benefit both companies and expand our businesses,” said Ms. Monica Varas

Airing his thoughts on the occasion, Mr. Chong said – “Coming together as partners is indeed my honor. A big step forward for SAG to support and work successfully with Varas Brokers .”

The U.S. Commercial Service, Department of Commerce played an instrumental role and worked with J Syzygia Consultants in India to bring this to fruition.

Anuraag Sunder of J Syzygia Consultants, an international investment banking & advisory firm, said ‘SAG is an iconic company and counts among the most respected insurance institutions in Malaysia. With Varas’ deep network and proven expertise in the US markets coupled with the institutional support it enjoys, both Varas and SAG can create robust risk management solutions for their respective clients. At a time when business confidence is not yet back fully back in the larger ecosystem, this is a clear win-win proposition that will infuse confidence in the minds of the stakeholders concerned.”

Valeria Bossio
Varas Insurance Brokerage Inc
+ +1 201-530-7773
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August 23, 2021, 20:57 GMT

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