U.S. RE Companies, Inc., an international financial services and reinsurance brokerage firm, has joined with one of China's leading brokers, Shanghai Transceed Insurance Brokers Co., Ltd., in a strategic partnership to provide brokerage and consulting services in the insurance and reinsurance sectors. The announcement was made jointly by Tal P. Piccione, Chairman/CEO of U.S. RE, and Chen Hui Xin, President of Transceed.
In a joint statement, Mr. Piccione and Mr. Chen said, "We are pleased to enter into a joint undertaking between Transceed and U.S. RE., which among other elements is to assist each other in services on insurance and reinsurance related activities inclusive of the co-development of business in the Chinese market." The two companies will devote business and technical resources to the alliance.
The joint statement was issued following meetings between senior officers of the two groups at their respective headquarters in Pearl River, NY, and Shanghai. Both sides agreed that a dedicated team of professionals will come together to collectively market products and services in China.
Transceed is one of the top brokers among China's 392 insurance brokers and holds the "Five Star" credit rating certification as a Shanghai Professional Insurance Intermediary. Transceed is active in major sectors of the Chinese economy including energy, construction, manufacturing, and metallurgy. Among its clients are Shenergy Group Co., Ltd.; Shanxi International Electricity Group Co., Ltd.; Baosteel Zhanjiang Iron & Steel Co., Ltd.; Maanshan Iron & Steel Company Limited; Shanghai Petroleum Co., Ltd.; Shanghai International Airport Co., Ltd.; and Zhenhua Heavy Industry Group Co., Ltd.; Shanghai International Finance Center. The Company also has close relationships with China's leading insurers.
U.S. RE Companies, Inc. is an international financial services firm with operations in reinsurance brokerage, consulting, investment banking, underwriting, analytics, claims, risk, and captive management. The brokerage arm, U.S. RE Corporation, Inc., is one of the largest, independent reinsurance brokers with worldwide clients. Since it was founded more than 20 years ago, U.S. RE has served global clients with the full array of traditional reinsurance and innovative, proprietary products. U.S. RE Securities, Inc., the Group's investment banking subsidiary, recently provided advisory services in connection with financing an equity investment in a major Singapore-based, insurance holding company that is developing a diversified pan-Asian insurance group.