The process is underway and the club hopes to get a licence sometime next year, which will then pave the way to bringing in an underwriter to be based in Hong Kong.
Speaking after the club's Asian Members’ Forum in Hong Kong, Fuller reiterated that the move was meant to better serve the needs of its members rather than to try and seek new business.
He noted that while about half of the club's members are in Asia, Britannia P&I has not traditionally been active in China and has no intention of doing so in future.
The regional forum demonstrate the club’s strategy of providing members with a local personalised service, backed by a global presence in the market, Britannia said.
The Asian Members’ Forum outlined Britannia’s strategy, which has included the club strengthening its presence in the region, with its managers having recently taken over a longstanding exclusive correspondent in Japan with offices in both Tokyo and Kobe, which has been renamed Tindall Riley (Britannia) Japan Ltd.
“The Asian Members’ Forum is an important event given that half of our membership is based in the region. Enhancing our personalised service to members by having dedicated Britannia owned local offices in key territories is vital,” said ceo Andrew Cutler.
Some 58 members from nine Asian countries attended the forum, including 13 from Hong Kong.
“The recent re-branding of the association has been received positively by members, reinforcing the aim of an accessible, modern and progressive Club backed by sound financial management,” Cutler added.
The forum also had good news for members, with the club announcing no general increase for 2018/19 and a further $10m capital distribution.
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