“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,Ryohei (Roy) Nakazawa, Head of WTW Japan
TOKYO: WTW, a leading global advisory and broking solutions company, today 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 Co., Ltd.
Headed by Tetsuro Nakazawa, Representative Director and Chief Operating Officer, WTW Broker Japan, the new retail brokerage operation will consist of over 10 brokers and risk advisors by the beginning of next year.
Ryohei (Roy) Nakazawa, Head of WTW Japan, said, “We’re excited with the expansion of our additional service in Japan, introducing specialty broking solutions to Japanese companies. 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,” said Nakazawa.
Luke Ware, Head of CRB Asia, WTW commented.“This underscores our commitment to support the evolving needs of our clients and strengthen our position in the market – to be Japan’s best risk advisor, specialty broker and client partner, with world-class analytical capability. Japanese businesses face increasing technology, cyber, supply chain and climate transition risks. In response, we offer deep industry knowledge and insights to help them mitigate these risks and optimize business performance.”
Tetsuro recently joined WTW and brings with him 25-years of insurance industry experience in Japan, Singapore and London. An industry veteran in facultative reinsurance broking, Tetsuro has dedicated himself to property and facultative reinsurance placements for large and complex Japanese corporate risks, having worked at leading international broking companies with agency and broking operations in the past.
Tetsuro 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. WTW Broker Japan is positioned to work with corporate clients and insurance partners or agencies to support companies in securing insurance and fac reinsurance for complex risks.”