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Arthur J. Gallagher, the international division of Arthur J. Gallagher & Co. said Monday that is has officially launched Jiang Tai Re with partner Jiang Tai Insurance Brokers Co. Ltd.
Jiang Tai Re is a Shanghai, China-based reinsurance brokerage. Frank Lu, president of Jiang Tai Insurance Brokers will lead the team. Arthur J. Gallagher's specialist reinsurance partner, Capsicum Re, will service and support the team on treaty and facultative business, Arthur J. Gallagher said in a statement.
Jiang Tai Re aims to help Chinese enterprises operating overseas to expand internationally and to establish Shanghai as a regional reinsurance center, according to the statement.
“The partnership model of Jiang Tai Re is built on a powerful combination of Gallagher's technical expertise, which is driving the creation of new and specialist reinsurance and risk solutions, and Jiang Tai's extensive local relationships with clients that are keen to invest and expand beyond China,” Mr. Frank Lusaid in the statement. “We believe Jiang Tai Re is well-placed to assist the government in its efforts to build a more diversified insurance market and sophisticated risk management system for catastrophe, agricultural and retirement programs through its professional actuarial and reinsurance services. We are very excited by the potential.”
Arthur J. Gallagher & Co. has acquired Reid Manson Ltd., an insurance brokerage in Timaru, New Zealand, a Gallagher statement said.