The Standard Club Asia is teaming with China’s second largest insurer, Ping An, to collaborate on underwriting P&I risks for the world’s second-largest shipowning country.
For Standard Asia and its management team from Charles Taylor, the agreement represents a significant milestone in its growth ambitions in China.
Jeremy Grose, chairman of Charles Taylor Mutual Management (Asia), said: “Ping An is known for its innovation, technical expertise and specialist underwriting ability. Together with our international expertise, the agreement creates synergies that will strengthen the P&I offering of both Ping An and Standard Asia.”
Standard has fostered similar agreements in East Asia previously such as with with Tokio Marine & Nichido Fire Insurance in Japan and the Korea P&I Club in Seoul.