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Sean Welsch, the former head of captive management and business development for Asia-Pacific at Zurich Insurance, has formed a new captive management company based in Singapore.
The firm, known as Welsch Captive Management will provide a variety of services, including feasibility services, captive management, compliance, captive fronting and international programme structures, and advisory solutions, according to a report by the Captive Insurance Times.
Aside from clients in Asia-Pacific, the firm will also target potential clients outside the region. Welsch is currently the only staff member, as the company is still building up its portfolio.
Welsch said that he expects advisory business to begin in late 2018 and will work on forming a captive early next year.
“Welsch Captive Management fills a need, specifically in Singapore and in APAC as a whole, because there are no other independent captive managers,” he told Captive Insurance Times. “Insurance is a passion of mine, so it was a no-brainer to go this direction. It is not a saturated market – there isn’t really any competition here.”
He added that the firm is a continuation of what he was doing while working for an insurer, but it is more focused on the Asia-Pacific region and the customers.
“There is a wide space that needs to be catered to and there is a lot of education that still needs to be done for APAC to get to a similar place to Europe and the US,” he said.
