Cui has been with the firm since 2012 and previously led business development in North Asia, covering markets including Taiwan, South Korea, and Mainland China.
In her new role, Cui will oversee the expansion of Howden Re’s cedant facultative operations across the Asia-Pacific region. She will collaborate closely with the treaty team to develop and implement facultative reinsurance solutions tailored to client needs in the region.
Luigi Boglione, managing director and head of facultative & joint ventures at Howden Re International, noted her focus on client solutions and her role in supporting the company's business development in Asia-Pacific.
Facultative reinsurance in Asia has gained prominence in 2024, driven by insurers' need to manage complex risks and navigate market volatility.
A survey conducted by WTW in mid-2024, encompassing 300 senior decision-makers from property and casualty insurers across various regions, including Asia-Pacific, revealed that 86% of respondents consider facultative reinsurance integral to their risk management strategies.
Furthermore, 68% plan to increase their use of facultative reinsurance over the next two years. This uptick is attributed to the need for managing high-value and specialty risks, such as cyber threats, environmental liabilities, and professional indemnity exposures.
Despite the growing demand, 56% of surveyed insurers identified limited capacity as a significant barrier to procuring sufficient facultative reinsurance coverage. This constraint is particularly pronounced in Asia-Pacific, where insurers face challenges in securing adequate coverage for emerging risks.
Last month, Howden Re also expanded in Asia with the opening of its new office in Taiwan. The Taiwan facility will specialize in treaty reinsurance and offer local customers greater access to expertise and resources.
Jimmy Tsai will join as managing director in June to lead the office. Tsai has more than 15 years of experience in the Taiwanese and Asian reinsurance markets.
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