The Standard Club has expanded its presence in Greater China after its Singapore based subsidiary, Standard Asia, gained authorisation earlier this year to carry on insurance business in Hong Kong.
Standard Asia has established a Hong Kong branch which is led by chief executive officer Michael Turnbull, a legally-qualified insurance industry veteran who was previously chief executive officer of another International Group P&I Club in Hong Kong. Turnbull, who holds independent non-executive director positions on the boards of two Hong Kong insurance companies, reports to David Roberts, Managing Director of Standard Asia.
Of his appointment, Michael said: “I am pleased to be leading Standard Asia Hong Kong. We aim to grow our business in the region and to deliver the very best for our members. Katherine Wang has joined as underwriter for the branch and is responsible for business development in Greater China. Katherine has exceptional experience in the market having previously worked as an underwriter in two other International Group clubs.”
David Roberts, Managing Director of Standard Asia, said: “We are delighted to have received authorisation from the Hong Kong Insurance Authority to carry on insurance business in Hong Kong. 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. 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 co-operation 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.”