The Standard Club has expanded its presence in the Greater China region with the opening of its Hong Kong branch.
This comes a few months after its Singapore based subsidiary, Standard Asia, gained a licence to conduct insurance business in Hong Kong.
Leading the new branch is CEO Michael Turnbull, who was previously chief executive officer of The Shipowners’ Club in Hong Kong. He reports to David Roberts, managing director of Standard Asia. Turnbull also holds independent non-executive director positions on the boards of two Hong Kong insurance companies.
“We are delighted to have received authorisation from the Hong Kong Insurance Authority to carry on insurance business in Hong Kong,” said Roberts. “This underscores Standard’s commitment to its Asian members who comprise 27% of the club’s tonnage. We now employ almost 40 people across our Singapore and Hong Kong offices, spanning underwriting, claims, loss prevention, finance and administration, providing a truly localised regional service.”
Meanwhile, Katherine Wang has joined as underwriter for the Hong Kong branch, and is responsible for business development in the region. According to Turnbull, Wang has exceptional experience in the market having previously worked as an underwriter in two other International Group clubs.
“Our new Hong Kong branch gives us the opportunity not only to develop an underwriting presence on the ground in one of Asia’s key maritime centres, but also to spearhead our business development initiatives in Greater China following our cooperation agreement concluded late last year with Ping An Property & Casualty Insurance Company of China Ltd to offer P&I insurance to Chinese shipowners engaged in international trade,” added Roberts.
