Shanghai Asian Insurance Brokers Registered as 1st Chinese Lloyd’s Broker

Shanghai Asian Insurance Brokers Co. Ltd. (SAIB) has been registered as the first Chinese Lloyd’s registered broker.

Based in Shanghai, SAIB specializes in liability insurance, special risk insurance and reinsurance, SAIB said in a statement, noting that it was insurance consultant for Expo 2010 Shanghai China as well as the Shanghai Disneyland Project.

Becoming a Lloyd’s insurance broker will further the development of SAIB’s reinsurance brokerage business “and will help accelerate our internationalization and the establishment, improvement and optimization the corporate identity and brand,” commented Bao Rongqing, chairman of SAIB.

“Lloyd’s is committed to strengthening its relationships with Chinese brokers, and I welcome the opportunity to work with Shanghai Asian Insurance Brokers,” according to Lloyd’s Global Markets Director Vincent Vandendael.

“It is a very positive step that Lloyd’s specialist underwriting expertise is available to Shanghai Asian Insurance Brokers’ customers, and we look forward to a successful and growing relationship,” he added.

Lloyd’s China Chairman and CEO Eric Gao said:

“I feel very pleased that Shanghai Asian Insurance Brokers has been approved to become the first Chinese Lloyd’s registered broker. This achievement is an excellent reflection of Lloyd’s Vision 2025 and one of the strategic priorities of increasing distribution relationships. I look forward to seeing more Chinese brokers go global and increase their international competitive capabilities via Lloyd’s platform.”

Source: Lloyd’s and Shanghai Asian Insurance Brokers

Topics Agencies Excess Surplus China Lloyd's