Cooper Gay aims for reinsurance growth in Japan

Cooper Gay has announced a formal consultancy arrangement with Japanese reinsurance specialist Megumi Ugai.

Ugai’s remit is to assist Cooper Gay & Co Ltd and other companies within the Cooper Gay Group with the development of reinsurance business opportunities in the Japanese market.

Based in Tokyo, Ugai has more than 30 years of (re)insurance experience. Prior to setting up his own reinsurance consultancy Clifton Consulting Inc in 2008, he was managing director of Hannover Re Services Japan from 1999 to 2008 where he "significantly improved" market penetration and growth.

From 1974 to 1997 he held a variety of roles at Sompo Japan (formerly Yasuda), spending the last four years of his time there as general manager, reinsurance department where he was responsible for the placement of Yen 60 billion in reinsurance premiums both in the domestic and the international markets.

Andrew Hitchings, managing director of Reinsurance at Cooper Gay & Co, said: “We are fortunate to be able to secure the expertise of Megumi Ugai. His vast experience of the Japanese reinsurance market and extensive contacts will be of huge benefit to us as we look to continue to build our reinsurance presence in Japan and the Asia Pacific area.”