Willis expands Asian marine practice

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9 July 2012

Global broker Willis has established a new Marine Technical Services division in Singapore to take advantage of a lack of marine insurance expertise in the Asia-Pacific region.

Sau Weng Tang, the former MD of marine surveying and adjusting firm CSL, joined Willis last week to lead the new operation.

Willis Australasia MD Placement Chris Nelson told insuranceNEWS.com.au Willis “is looking to invest in this area to assist our clients”.

“There is a lack of capability and experience in the marine industry,” he said.

Allianz Marine & Transit CEO Stephen Ford agrees that there is an experience gap in the marine insurance market, at least in Australia.

“There’s a more senior generation of people who have lots of experience in the marine industry, many of whom are retiring,” he told insuranceNEWS.com.au.

“I can’t speak for Asia, but the real challenge in Australia is how we bring new people in and train them to fill the vacancies.”