UK-based international specialist insurance intermediary New Dawn Risk Group has partnered with Singapore-based SpecialistRe to fortify its presence across China, Japan and South-East Asia.
The partnership will enable New Dawn Risk, which specialises in complex, international liability and other specialty insurance and reinsurance, to offer treaty reinsurance in the specialty space.
New Dawn Risk CEO Max Carter said: “At this time of unprecedented change, Asia is powering growth in the global insurance industry. 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.”
SpecialistRe, which was originally established in Malaysia, has a strong presence in Singapore as an advisory and consulting firm since last five years. The company utilises technology in partnership with insurtechs to offer risk transfer arrangements for its network of cedants across Asia.
SpecialistRe managing director Andrew Harris said: “We are delighted to be partnering with New Dawn Risk at this time of evolving change in the reinsurance market.
“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.”