Willis Towers Watson has added Shanghai to its global property and casualty hub, a move which the company said is aimed at enhancing its global placement model for clients.
According to the broking giant, the Global Markets P&C Hub further strengthens the coordination of Willis Towers Watson’s placement teams. Initially focused on the coordination of placement activity across London, Bermuda and Singapore, adding Shanghai improves the hub’s capabilities, idea-sharing and innovation across the Asia-Pacific region.
The global P&C team currently has 145 experts worldwide that collaboratively assess client needs to establish the best marketplace for placements and where appropriate provide international market solutions for clients, the company said. Further expansions of the global hub are in the pipeline, with a second phase expected throughout 2021.
“The addition of Shanghai to the Hub demonstrates Willis Towers Watson’s commitment to delivering innovative solutions and support to our clients through challenging times, including in the Asian region,” said Garret Gaughan, head of global markets P&C, Willis Towers Watson. “This global service proposition places us at the forefront of our industry. The addition of Shanghai to the Hub demonstrates Willis Towers Watson’s commitment to delivering innovative solutions and support to our clients through challenging times, particularly in the Asian 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
"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.”