Broker New Dawn Risk Group is to expand its Asian capabilities following the announcement today of a partnership with Singapore-based SpecialistRe.
The firm say the deal has been struck as it looks to strengthen its reach and offering across China, Japan and South-East Asia.
Max Carter, (pic) CEO of New Dawn Risk, said: “At this time of unprecedented change, Asia is powering growth in the global insurance industry. We have been tracking opportunities in the region for some time, and our new partnership with SpecialistRe – a well-established presence in Singapore – will help us to deliver experienced expertise for treaty reinsurance in the specialty space. As we further extend our international footprint so we can best meet the evolving needs of cedants and reinsurers, we will continue to maintain our core focus on professional indemnity, financial and specialty liability lines, as well as accident & health, both on the direct and on the reinsurance sides.”
SpecialistRe was originally established in Malaysia and has been operating in Singapore since 2015 as an advisory and consulting firm with a strong focus on treaty reinsurance.
Andrew Harris, Managing Director at SpecialistRe, said the [partnership will benefit both entities as the deal provided the group with enhanced access to the London market at a time when London was reshaping its approach to the region.
“We are delighted to be partnering with New Dawn Risk at this time of evolving change in the reinsurance market,” he said. “The ability to provide independent treaty capability in these specialist growth areas is an exciting development that will allow us to broaden the range of solutions we can provide to clients.”