Rare Earth Insurance Partners, a member of the +8 Partners global insurance ecosystem, has announced multiple promotions and new positions within its leadership team.
Headquartered in Hong Kong with offices in Shanghai, Taiwan and the United Kingdom, Rare Earth is an independent wholesale insurance broker providing competitive commercial insurance products and expertise to retail brokers and insureds.
Company changes include Wang Wei being promoted from his current position as CEO to Chairman of Rare Earth Insurance Partners Asia Pacific.
The executive has joined Rare Earth Insurance Partners since July 2019, bringing with him more than 20 years of professional experience in the Asia-Pacific region.
Candace Chan, an insurance veteran with more than two decades of experience, has been appointed CEO of Rare Earth Insurance Partners in Hong Kong and Taiwan.
Mr Chan joined the company in 2018 to oversee its shipping division before being appointed managing director of the Hong Kong office in 2019.
The executive held various leadership roles at Jardine Ship Management Ltd., Charles Taylor Adjusting, before serving as regional director for a major marine insurance broker providing global coverage to the shipping and logistics industry.
Rare Earth also appointed former Shanghai chairman Mark Gu as CEO of Rare Earth Insurance China. Mr. Gu joined the company in 2017 and has more than 20 years of experience in marine insurance.
He started his career at Tokio Marine China, then moved to AIG and then became Head of Marine at RSA China, managing the country’s business for 16 years. In 2013, he turned to the brokerage industry, focusing on providing marine reinsurance to mainland Chinese cedants and developing overseas investment opportunities.
Martin Ham has been appointed chief executive UK and Europe. Ham will be based in the UK and will be responsible for the growth and expansion of the marine reinsurance and other specialty businesses in the UK, Europe and the US
Prior to his new appointment, the executive, who has over 30 years of professional experience in the UK and Asia, has served as UK and European Director of Rare Earth Partners since 2022.
Ham began his career at the Steamship P&I Club in London before becoming a Lloyd’s insurance broker for HSBC and other companies. He moved to Hong Kong in 2011 and served as Marine Director at Chubb Insurance in 2016 before joining Rare Earth.
“When we established +8, our founding philosophy was that growth and opportunity should be shared – not just in business performance, but in the development of the talent that drives performance,” said Philip Bilney, founder and executive chairman of +8 Partners. “These appointments are a direct reflection of that philosophy: We want our best talent to take on the highest levels of responsibility and leadership within our organization, and we’re proud to see that happen.”
“At the same time, these changes reflect how the focus on rare earths has become sharper and more sophisticated. The new trading capabilities in China we acquired last year were a landmark moment and we are leveraging the opportunities that come with it to build meaningfully. Our operations in Hong Kong and Taiwan and our relationships in the London market continue to be relevant. These appointments enable us to deliver on all of these objectives with real intent.
“This is an investment in the business – clearer senior leadership that creates room for the next generation of talent to grow and share in the company’s success.”
