Alaric Lee (pictured) will take over as chief executive officer of Howden’s Hong Kong operations starting July 1, 2026, as the global insurance intermediary group realigns its leadership structure across Asia. Alfred Sham, who currently holds the role, will shift to Singapore as chief strategy officer, Asia. Lee’s appointment remains pending regulatory approval. Lee currently holds the title of chief commercial officer for Asia and has spent more than a decade working in Hong Kong markets.
Sham took charge of the Hong Kong business two years ago. Under his watch, the operation grew to twice its previous size. His transition into a regional role follows what the company described as a period of sustained momentum in one of Asia’s key financial centres. Lee, for his part, is no stranger to the market he is inheriting. His experience across Asia – and specifically his longstanding ties in Hong Kong – informed Howden’s decision to place him at the helm of the territory’s operations. “I am excited to return to Hong Kong and take on this new role. It is a market I know well, with tremendous opportunity, and I look forward to working closely with the team to build on the strong foundation in place and deliver for our clients,” Lee said.
Sham acknowledged the work ahead of him in his expanded capacity. “It has been a privilege to lead the Hong Kong business and to work alongside such a talented team. I am proud of the progress we have made together and look forward to contributing to Howden’s continued growth across the region in my new role,” Sham said. The restructuring reflects a broader internal philosophy at Howden of promoting from within and calibrating leadership to match strategic demands across different parts of Asia.
The transition unfolds against a demanding environment for insurers operating across the Asia-Pacific region. Geopolitical friction, underinsured catastrophe losses, and the uneven adoption of artificial intelligence are among the issues shaping the industry’s trajectory in 2026, according to a January report from S&P Global Market Intelligence. Trade policy uncertainty stemming from US tariff decisions in 2025 has prompted many corporations to slow investment decisions and reassess their supply chain exposure. Steve Tunstall, general secretary of the Pan-Asia Risk and Insurance Management Association, told S&P Global Market Intelligence that the knock-on effect for insurers is a landscape where risks are harder to quantify and cover.
Meanwhile, Chinese companies have been accelerating their international footprint, particularly toward the Global South. That shift has created an opening for insurers willing to follow their clients into unfamiliar territories – but it also means competing with Chinese carriers already embedded in those corridors. “Broadly speaking, I think it’s a complex picture, and I don't think at this stage, international insurers are necessarily doing enough to address the potential opportunities or the potential threats of this significant change,” Tunstall said.
Premium growth across Asia-Pacific is expected to ease in 2026 relative to prior years. Deloitte’s insurance outlook projected non-life premium expansion at 2.5% for the region, while life insurance premiums are forecast to grow by 1.1% – an improvement from the near-stagnation recorded in 2025. Cyber insurance stands out as an outlier. Primary carriers in the region posted compound annual growth rates of 36% in gross written premiums over a five-year period, ranking second globally behind Latin America, according to S&P Global Ratings. With market penetration still at early stages across much of Asia, analysts view the segment as one of the more durable growth stories heading into the medium term.
