Rare Earth Insurance Partners Shanghai ("Rare Earth Shanghai") was officially reshuffled in mainland China. Led by industry veterans Wang Wei and Mark Gu, Rare Earth Shanghai is targeted to be an independent wholesale insurance broker in mainland China, providing expertise and competitive commercial insurance products to insureds and retail brokers.

In a signing ceremony attended by some 100 clients, insurers, reinsurers, brokers and other guests in Shanghai last week, Rare Earth Shanghai entered into two key agreements which will shape the company’s future. Firstly, an exclusive arrangement to supply the latest logistics insurance products and bonds to Chinese members of the World Cargo Alliance, the world’s largest and most powerful network of independent freight forwarders.

Secondly, a wide-ranging agreement with Rare Earth Insurance Partners, Hong Kong which capitalizes on many years of international cooperation and experience, and which grants the new company exclusive permission to use the prestigious Rare Earth brand in mainland China. Leveraging this relationship will bring significant volumes of new overseas insurance business into the China market which it is hoped will be traded in the Shanghai International Reinsurance Center.

Wang Wei will serve as Chairman of Rare Earth Shanghai, and Mark Gu is the new entity's CEO.

Mr. Wang remarked: “Rare Earth Shanghai will bring new dimensions to the China insurance market – distributing first class retail products to the local market, whilst bringing international business, expertise and systems from across our global network.”

Mr. Gu added: “We have been delighted by the market’s reaction to the launch of Rare Earth Shanghai and the many opportunities this will open up for our friends and partners across the country.”

About Rare Earth Insurance Partners Shanghai

Rare Earth Insurance Partners Shanghai is a specialty lines intermediary, providing a connected and intelligent insurance and reinsurance broking service. Leveraging its relationships and expertise around the world, the company optimises both inward and outbound reinsurance transactions, serving a global network of clients and partners.

For more information visit: ‍www.rareearth-ch.com

About Rare Earth Insurance Partners Hong Kong

Rare Earth Insurance Partners Hong Kong is a member company of the +8 Partners ecosystem, a unique and accelerating group of associated insurance businesses, each with their own area of expertise and focus within the insurance industry and all providing best-in-class service. Each brings perspective, connections, and a detailed understanding of the practical realities of (re)insurance ventures and projects.

For more information visit: +8 Partners