TIGERRISK CREATES NEW TEAM AND OFFICE IN HONG KONG

US-based reinsurance and capital management advisory firm TigerRisk has announced the creation of its first on-the-ground presence in Asia. TigerRisk China Partners will be based in Hong Kong and has joined the Hong Kong Confederation of Insurance Brokers. The Hong Kong team will be led by Houqin Zhu, who previously led Willis Re’s China operation. Michael Fung and Raymond Chen have also been named as part of Zhu’s team. The new operation adds to TigerRisk’s six offices in the US, along with its presence in London and Bermuda. "The 21st Century belongs to Asia in terms of economic development. The most powerful engine of that development is China. That is why we elected to start our Asian presence here,” said Rod Fox, chief ecutive of TigerRisk. Tony Ursano, the company’s president, said: “We want to be an important participant in the development of the Chinese insurance market. We will do so by bringing the analytic, technical, product development and advisory skills we have developed in North America and Europe."