WTW, a leading global advisory and broking solutions company, yesterday announced the expansion of its Corporate Risk & Broking (CRB) business in Japan with the launch of an insurance brokerage service.
The new service will offer insurance solutions to commercial clients, as well as wholesale facultative reinsurance placement services to partner brokers or agencies in Japan under the entity, WTW Broker Japan.
WTW Japan head Ryohei (Roy) Nakazawa said, “Working closely with the international and domestic insurance markets, we will focus on the speciality segments, particularly for large corporates and Japanese companies with overseas business interests. These include those in Natural Resources, such as Power Plants, Renewables and Mining, Marine, Construction, Aviation, Crisis Management, Rep & Warranty, Captive and reinsurance business.
“At the same time, our existing agency company will continue to focus on the domestic corporate business and Japanese companies with global programmes, where we can support them in collaborating with their corporate in-house agencies.”
Headed by Mr Tetsuro Nakazawa, representative director and COO of WTW Broker Japan, the new retail brokerage operation will consist of over 10 brokers and risk advisors by the beginning of next year.
He said, “Japan’s corporate insurance market is undergoing a phase of transformation, and the role of independent international brokers is expected to grow in importance.”
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