Singapore judge rules loyalty and fair dealing must remain at the core of business relationships despite client freedom of choice
A reinsurance broker brought claims against two former employees and their new employer, alleging they conspired to divert significant client business while still employed by the original company.
The case raised fundamental questions about employee loyalty and fair dealing in competitive industries where clients are free to choose their service providers.
The employer argued that the employees secretly assisted with establishing a competing business, retained confidential information, and orchestrated the transfer of a major client's insurance portfolio worth over one million dollars annually.
The employees denied any conspiracy and argued they only commenced employment with the new company on the dates stipulated in their contracts and that the client independently chose to move its business.
The senior broker commenced employment with the reinsurance company in mid-2018 as head of the Korean desk handling facultative reinsurance business.
The junior broker started several months later and worked directly under the senior broker's supervision as they had a close mentor-mentee relationship dating back to 2016.
The junior broker resigned in early August 2021, and his last day was early November 2021. He signed an employment contract with a Korean insurance services company later that month...
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