Willis, a WTW business, has announced a major expansion of its corporate risk & broking operations in Japan, reflecting a strategic commitment to the country’s insurance sector.
The company is increasing its workforce and enhancing its expertise in specialty lines, aiming to address the evolving risk management needs of Japanese businesses.
Ryohei (Roy) Nakazawa, who leads WTW in Japan, stated that the expansion is designed to position Willis as a key partner for Japanese firms navigating complex risk environments.
“By bringing the best talent and building up our specialty capabilities, we are positioning ourselves to be a trusted risk advisor, specialty broker, and client partner to Japanese companies navigating today’s complex risk landscape locally and those with an international business footprint,” he said.
Industry data indicates that Japan’s general insurance market is expected to increase from JPY11.7 trillion (US$81.1 billion) in 2024 to JPY12.7 trillion (US$93.9 billion) by 2028, representing a compound annual growth rate of 2.2%.
Nakazawa said: “We see growth driven by commercial lines, digital transformation, and risk advisory services amid global uncertainty. There is also rising risk awareness and demand for protection from businesses against climate change and natural catastrophes, cyber threats, and supply chain disruptions.”
He also highlighted the continued importance of marine insurance, citing Japan’s role as a leading maritime nation and its significant share of the global shipping fleet.
“The marine insurance sector continues to gain momentum as Japan remains one of the world’s top maritime nations, accounting for 11% of the world’s fleet of vessels. Its strategic position in global trade and its advanced maritime industry is fuelling demand for marine cargo insurance solutions,” Nakazawa said.
Since the beginning of the year, Willis has brought on 22 new professionals in Japan, including hires for its brokerage service entity launched in late 2023.
These additions have broadened the company’s client-facing capabilities and reinforced its presence in key specialty areas such as natural resources, construction, and large account management.
Recent appointments include leadership roles in risk & analytics, facultative reinsurance, marine, business development, large account, and claims.
Among those joining the team are:
The new hires bring experience from major industry players, including Marsh, Aon, Tokio Marine, Mitsui Sumitomo, Marubeni, and Moody’s RMS.
“In today’s increasingly uncertain environment, our expanded expertise enables us to deliver the best-in-class insurance broking and risk management advice," Nakazawa said. "Leveraging Willis’s leading analytical and technology capabilities, we help clients better navigate challenges and seize new opportunities with greater resilience.”
Willis has also made leadership changes in its Asia operations.
Seckin Atilgan has been named head of growth, trade credit, for the credit risk solutions division in Asia, based in Singapore.
Atilgan’s responsibilities include driving business development across the region, with a focus on corporate clients, commodity traders, and financial institutions.
He brings over two decades of experience in financial services, having previously held senior roles at Marsh’s Global Clients Group and Euler Hermes World Agency.
In India, Willis has appointed Azad Kumar as growth leader for its energy, construction, and marine business.
Based in Mumbai, Kumar will support the firm’s specialisation strategy in sectors experiencing significant infrastructure development, such as offshore construction, port upgrades, and energy projects.
Kumar’s background includes more than 26 years in insurance and broking, with experience advising on risk for large-scale engineering and industrial ventures.
