Howden, a UK-based insurance coverage dealer, has forayed into the Japanese market with the launch of Howden Re Japan.
The brand new enterprise will provide reinsurance brokerage providers and strategic recommendation to each life and non-life corporations in Japan.
Kentaro Tada has been appointed as CEO of Howden Japan, tasked with driving the expansion of Howden’s operations throughout the nation.
Tada has served in senior roles within the reinsurance trade, together with because the president and CEO of Rakuten Common Insurance coverage Firm and Man Carpenter Japan, in addition to the president and CEO of SBI SSI Holdings.
Howden Re Japan goals to leverage knowledge, analytics and capital markets experience to offer tailor-made reinsurance options.
Together with this transfer, Howden has invested in Keystone, a Japanese firm specialising in Insurance coverage-Linked Securities (ILS) structuring and capital markets advisory providers.
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The demand for ILS providers in Japan has surged because of the frequent incidence of pure disasters and the ensuing financial losses.
Moreover, there’s a push to diversify capital sources and innovate within the reinsurance sector, Howden famous.
Howden CEO David Howden stated: “It’s vastly thrilling second for us as we enter the Japanese market, bringing a recent, dynamic and entrepreneurial mindset underpinned by an worker possession mannequin meaning we’re pushed to realize extra, collaborating throughout borders and specialisms to ship for purchasers.
“This strategy to shopper service and a dedication to long-term enterprise relationships means we have now many shared values with Japan’s company tradition.”
Tada added: “This is step one on a journey to ascertain Howden’s long-term presence in Japan. As an organization, Howden is devoted to enhancing catastrophe resilience and company sustainability, and Japan, as a rustic that faces vital dangers from large-scale pure disasters akin to earthquakes and typhoons, can profit tremendously from the specialist world experience we deliver.
“Japan’s threat setting is turning into ever extra complicated to navigate, with cyberattacks and geopolitical tensions additionally of concern to each home and multinational corporations with operations within the nation.”
Earlier this week, Howden signed an settlement for the acquisition of AGEO brokerage group, an worker advantages insurance coverage dealer primarily based in Paris.
Based in 1984 by Eric and Maryse Oziebala, AGEO caters to round 12,000 company and small and medium enterprise purchasers with a group of 300 throughout 32 workplaces in France.
In addition to worker advantages, AGEO’s experience spans medical health insurance, coverage administration, claims administration, retirement and pensions providers, and boutique property and casualty capabilities.
