Willis Towers Watson, the global advisory, broking and solutions company, announced the addition of Shanghai to its global property and casualty hub, aimed at enhancing the company’s global placement model for clients.
The Global Markets P&C Hub further strengthens the ability of Willis Towers Watson’s placement teams to act as one, providing clients with access to a global response through one point of access, said the broker in a statement.
Initially focused on the coordination of placement activity across London, Bermuda and Singapore, the addition of Shanghai enables the hub to facilitate increased sharing of ideas, expertise, innovation and perspectives across the Asia Pacific region.
“We are pleased to see that Shanghai has joined the Global Markets P&C Hub along with London, Bermuda and Singapore,” said Wise Xu, head of Corporate Risk & Broking, China, and head of China at Willis Towers Watson. “This reflects the strategic importance of the China insurance market, being the second largest insurance market globally next to the U.S.”
He noted that clients in China will now be able to access global insurance capacity more efficiently. “At the same time, the dynamics of China’s emerging markets will also provide competitiveness and flexibility to our global clients. This will help to introduce more innovative solutions to the Chinese insurance market to satisfy the risk transfer needs of clients in China,” Xu said.
Source: Willis Towers Watson
Photograph: The cityscape of the central district of Shanghai and financial hub of China was photographed on Nov. 9, 2019.
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