Zurich has opened an office in Melbourne dedicated to its credit and political risk operations, amid growing demand for such services in the Asia-Pacific region.

It expands the insurer’s network of credit and political risk offices to 15 globally, including one in Sydney. The others are in Barcelona, Beijing, Frankfurt, Hong Kong, Houston, London, New York, Paris, Singapore, Tokyo, Toronto, Washington DC and Zurich.

Senior Underwriting Manager Clive Mok will run the Melbourne operation after serving eight years in Hong Kong.

“As the pace of globalisation increases and our customers expand into many emerging markets, we are seeing a much greater demand from our customers to protect their investments and manage their risks,” Zurich Global Corporate EGM Australia and New Zealand Giles Crowley said.

“[Mr Mok’s] appointment in Australia will enable us to meet the increasing demand in this space and give us full-time capability in Victoria, as we look to grow the credit and political business in the Australia and New Zealand markets [next year].”

Zurich has also hired new credit and political risk underwriters in London, Paris and the US.