International insurance intermediary New Dawn Risk, which already sees 95% of its business emanate from outside the UK, has extended further in Asia thanks to a new partnership.
The company has struck a deal with SpecialistRe, the Singapore-based firm, to boost its reach across Japan, China and South-East Asia.
“At this time of unprecedented change, Asia is powering growth in the global insurance industry,” said New Dawn Risk CEO Max Carter. “We have been tracking opportunities in the region for some time, and our new partnership with SpecialistRe – a well-established presence in Singapore – will help us to deliver experienced expertise for treaty reinsurance in the specialty space. As we further extend our international footprint so we can best meet the evolving needs of cedants and reinsurers, we will continue to maintain our core focus on professional indemnity, financial and specialty liability lines, as well as accident & health, both on the direct and on the reinsurance sides.”
Originally established in Malaysia, SpecialistRe has been operating in Singapore since 2015 and has a strong focus on treaty reinsurance. Its managing director Andrew Harris said he is delighted with the partnership.
“The ability to provide independent treaty capability in these specialist growth areas is an exciting development that will allow us to broaden the range of solutions we can provide to clients,” he said.