Page 67 - Next Generation 2015 - Digtial Issue
P. 67
Next Generation Asia
Keen sailor and
marine insurance
veteran helps
deal with complex
cross-jurisdiction
regulations for Markel
International’s growing
business in Asia
Singapore
Matt Cannock
Ms Ng does not have a maritime to signing on ships than Panama, A VETERAN in marine insurance for
background, but she does have an and told shipowners it could back up more than 15 years, Matt Cannock
entrepreneurial one. She was born in the commitment it made with better has overseen Markel International’s
Hong Kong, but spent her formative resources and more comprehensive, booming business in Asia.
years in Canada. swifter service.
Under his helm are more than 20
However, her family started to Asian owners have been buying it. professionals in Singapore, Shanghai,
gravitate back to China. Her mother South Korea became the fourth-largest Hong Kong and Kuala Lumpur. Based
started a real estate business in nationality in the Marshall Islands in the Lion City, Mr Cannock is seeking
Shanghai, and Ms Ng worked with Registry last year. to harness the continued trade growth,
her for some time until, “I decided I which comes with increased insurance
wanted to make money for myself”. She Korea has been Ms Ng’s most requirement, in this region.
decided to do that in Hong Kong. marked success. In 2014, the register
added 51 Korean-owned ships, totalling The British national initially
Winning over shipowners to the 3m gt, despite the hard times that have chose to enter into shipping out of
Marshall Islands had a lot to do with hit many of the largest South Korean personal interest: “I’m really into
convincing owners that Panama — also owners. sailing,” he said.
one of the world’s largest registers and
with a strong foothold in Asia — could Ms Ng says her team, led by Kim He went to the University of
not compete against the Marshall Young-min, has made a durable inroad Plymouth to study for his bachelor’s
Islands’ service. into mid-tier owners, which have fared degree in marine technology and later
a little better in the latest shipping attended University College London for
In recent years, the Marshall recession. his masters in marine engineering.
Islands has invested in expanding its
network so it can offer 24-hour technical She is now setting her sights on After graduation, Mr Cannock
and support service. It currently has Japan, where success in grabbing the worked as a technical consultant
17 global offices and regional offices in flight to quality from Panama has before beginning his career in maritime
Hong Kong, Tokyo, Seoul, Singapore, moved at a measured, but slower pace. insurance, and he reckoned the
Shanghai and Dalian. technical background has helped him
Next move: eyes on the Bahamas tremendously.
Ms Ng says the Marshall Islands register, which claims the majority of
offered a far less bureaucratic approach LNG vessel registrations, apparently an “I can see how [technical] things
industry tradition. Watch out Bahamas. affect them and how they affect us [as
underwriters],” he said.
In the late-1990s, Mr Cannock
became an insurance broker with
maritime focus in London. He then
moved to Singapore and started to
work as Royal & Sun Alliance’s regional
marine underwriting manager in 2002.
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