Standard Club has said that it is expanding its presence in the Asia-Pacific region with some key appointments and an enhanced suite of services. These include the launch of the Coastal & Inland class in Asia and three significant appointments in Hong Kong.
Standard Club CEO Jeremy Grose said that “we are building on our long-standing regional presence and products by introducing our Coastal & Inland class into Asia early next year and growing existing products such as Strike and Delay, whilst developing our team and enhancing communications with members.”
Standard’s current managing director for Ireland, Robert Drummond, has been appointed as Group Commercial Director and will be based in Hong Kong, from where he will lead the club’s commercial development in the region.
To support its business in Greater China, the club has recruited a marine surveyor and an additional underwriter to join its Hong Kong team.
Standard said that a key strength of its position in Asia was its partnerships with Ping An, Tokio Marine and Korea P&I Club.
Standard Club’s joint venture with Tokio Marine & Nichido Fire (TMNF) now underwrites 10% of P&I business in Japan. In April 2021 the club opened a new claims office in Tokyo, led by experienced Japanese Claims Director, Masaki Maeda, who is working with TMNF.
Standard Club has launched a Japanese hub within the club website; a Mandarin language hub was currently being developed. The WeChat social media platform will soon also be available, offering news, insight and guidance to Chinese members.
Standard Club Coastal & Inland class in Asia will launch with the start of policy year 2022/23. The class provides specialist cover to commercial coastal vessels – typically up to 10,000 gt – operating in harbours and coastal areas.
The club said that this move would “provide members and owners with more choice of insurance provision for coastal vessels, backed by its robust financial strength and expertise in the market gained over the last 50 years”.
A localized team will be supported from the Singapore office. The rollout of the Coastal & Inland class will initially be focused on the Singapore, Hong Kong, Indonesian and Thai markets.