Reinsurance broker and capital agnostic strategic risk advisory TigerRisk Partners LLC is targeting Asia for its next phase of growth, with the opening of a Hong Kong subsidiary named TigerRisk China Partners.
It’s the brokers first foray into Asia and comes close on the heels of the launch of the firms insurance-linked securities, investment banking and capital markets unit TigerRisk Capital Markets & Advisory.
TigerRisk China Partners became a member of the Hong Kong Confederation of Insurance Brokers on July 30th. The reinsurance broker now counts offices in New York, London, Minneapolis, Chicago, Raleigh, Dallas, Bermuda and Hong Kong, alongside its Stamford CT headquarters.
“The 21st Century belongs to Asia in terms of economic development. The most powerful engine of that development is China. That is why we elected to start our Asian presence here,” Rod Fox, CEO of TigerRisk commented on the launch of the firms Asia operations.
TigerRisk President, Tony Ursano, added; “We want to be an important participant in the development of the Chinese insurance market. We will do so by bringing the analytic, technical, product development and advisory skills we have developed in North America and Europe. We are delighted with the highly qualified and experienced team we have been able to attract to join us in Hong Kong.”
TigerRisk has hired Dr. Houqin Zhu to lead the Hong Kong based team. Dr. Zhu, a veteran of the insurance and reinsurance industry, began his career as a reinsurance buyer in China. He then moved to Singapore as a treaty underwriter for American Re and QBE Re.
After several years of underwriting, Zhou became a professional reinsurance broker and led Willis Re’s China operation. Zhu will be supported by a team of experienced professionals including Michael Fung, Raymond Chen and others. TigerRisk will provide analytic, technical and capital markets advisory resources resident in TigerRisk’s US, London and Bermuda offices to augment the China focused teams capabilities.
“China and the United States share a great number of common challenges in measuring and protecting capital from the risk of natural peril catastrophe,” Dr. Zhu said. “TigerRisk is excited to share and introduce our innovative approaches about measuring, controlling and mitigating catastrophe risk and spreading those risks globally.”