The New York-based Navigators Group announced that its Lloyd’s Syndicate 1221 is now underwriting insurance coverage in China through the Navigators Underwriting Division of Lloyd’s Reinsurance Company (China) Ltd. (LRCCL). The establishment and recent licensing of LRCCL enables Lloyd’s syndicates, including Navigators Syndicate 1221, to underwrite reinsurance business throughout China.
Navigators said it “supplies 100 percent of the capacity of Syndicate 1221, which is managed by Navigators Underwriting Agency Limited and serves as Navigators’ primary platform for business produced outside of the United States.”
The bulletin also noted that “Junci Wu, formerly a casualty underwriter in Navigators’ Chicago office, has relocated to Shanghai to underwrite on behalf of Syndicate 1221 at LRCCL.” She is a native of Shanghai and is returning to China after a decade in the United States. “During that time, she worked in the insurance industry while earning a master’s degree in business administration, as well as professional designations as Registered Professional Liability Underwriter and Chartered Property Casualty Underwriter.”
Navigators CEO Stan Galanski commented, “We are delighted to become the fifth Lloyd’s syndicate to establish a presence in Shanghai and are optimistic about the long term potential of the Chinese market. This initiative further enhances our ability to service the global needs of our agents, brokers and policyholders and provides access to this substantial market.”
Source: The Navigators Group – www.navg.com
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