Richmond Reinsurance Brokers embarks on expansion journey in Asia Pacific

Richmond Reinsurance Brokers (RRB) is set to launch an expansion plan into the Asia Pacific region with its first footprint in Taiwan.

Singapore-based RRB announced it has established a subsidiary in Taiwan and has obtained the license to provide reinsurance broking and risk consulting services for the Taiwan market.

The new subsidiary, Richmond Reinsurance brokers ( Taiwan ) Co Ltd will be based in Taipei, Taiwan. The office hires include reinsurance professionals who will manage and support the operations for its growing Taiwanese client base. This marks a key milestone for RRB as it accelerates its growth plans to grow and build relationships with clients and network partners in the region.

Singapore-based RRB is helmed by CEO, Sung-Kook Cho who comes with 30 years of experience in the insurance and reinsurance industries and a proven track record in providing management oversight in business development and insurance broking advisory in numerous multinational insurance businesses in Asia.

Commenting on the expansion, Sung-Kook Cho, said: With the current Convid-19 pandemic, there are business challenges for many markets alongside trade issues, slow revival of the economy, and new ways of working. We are fortunate to see substantial growth in our business in recent years. Our foray into the Taiwan market is a significant step and part of our strategic long-term expansion plan in the Asia region. As a specialist team, we will constantly look to learn and grow as the industry transforms rapidly with the need to provide curated client solutions in response to the challenging environments.”