HWI International Group, the privately owned insurance business, has announced the launch of NuVu Underwriting Hong Kong Ltd., a new managing general agent (MGA) in Hong Kong, headed up by industry veteran Jeremy Austen.
Subject to regulatory approval, NuVu Underwriting Hong Kong will begin underwriting on July 1, 2018, and will initially focus on property, marine, specie, fine art, personal accident and terrorism within the Asian region. HWI International Group has an established NuVu office in Madrid, Spain, and the new MGA will mark the first move into Asia for the NuVu platform and is part of plans to expand in Hong Kong and worldwide.
Austen will take on the role of principal officer and chief executive officer of the Hong Kong office and he brings more than 30 years’ experience in the industry as well as a wealth of knowledge in start-up operations. He began his career as a company underwriter for F.R. White, now Liberty Syndicate Management Ltd., and moved to Asia in 1995. He established Arthur J Gallagher’s Asia operation in 1999 before helping set up Talbot Syndicate in Singapore in 2007, and Nexus Underwriting Asia in Hong Kong in 2015.
“There has been significant growth and success in the MGA space globally, and this is set to continue as more and more underwriters look to MGAs to control their own destiny,” Austen said. “Being in Hong Kong will broaden the scope and reach of NuVu Underwriting’s distribution partnerships as well as create diversity to our existing portfolio.”
“Hong Kong’s position as a major insurance hub in the Asia-Pacific region makes it the ideal location to launch NuVu Underwriting as part of the next phase of our growth strategy,” said HWI International Group Director Steven Rudduck.
Source: HWI International Group
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