Willis Towers Watson, a leading global advisory, broking, and solutions company has added 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 strengthens the ability of Willis Towers Watson’s placement teams to act as one. 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.
The Global P&C team has over 145 experts across the world who can collaboratively assess client needs to establish the best marketplace for placements and where appropriate provide international market solutions for clients. The Hub is expected to broaden into other countries as part of a second phase expected throughout 2021.
Mr Garret Gaughan, Head of Global Markets P&C, Willis Towers Watson, said, “We offer a true broking across borders approach to global placements underpinned by strong data and analytics. This global service proposition places us at the forefront of our industry.”
Mr Wise Xu, head of Corporate Risk & Broking, China and head of China at Willis Towers Watson, referring to the addition of Shanghai to the Hub, added, “This reflects the strategic importance of the China insurance market, being the second largest insurance market globally next to the US. Clients in China can now access global insurance capacity more efficiently through our Shanghai hub and benefit from our truly global marketplace strategy. 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.”