CTX Special Risks was established as a Hong Kong owned and registered marine brokerage in August 2008. Initially, the company set up offices in Hong Kong, Taipei and London. Over the years, this network has expanded to include representatives in Fuzhou, Guangzhou, Qingdao and Shanghai. We concentrate almost exclusively on insurance solutions for vessel owners and operators within the Asian region. To provide the best possible service to its clients, CTX employs a team of insurance professionals, all of whom are specialists in the fields of marine broking and risk consultancy, with backgrounds ranging from career marine brokers, working for ship owners, charterers, P&I Clubs, hull/cargo insurers, average adjusting, master mariner and maritime lawyer.
“Team-work” is an essential part of CTX’s business ethos. As a result, barriers between team members, which are so often found in larger broking houses, have been overcome, allowing the free-flow of information which simplifies our policy and other internal processes. Such transparency allows everyone within CTX to provide a system of mutual support that can ensure seamless, around-the-clock, 365 days per year service. This gives our clients confidence to discuss issues with any one of our team members whilst still receiving consistent assistance of the highest standard. Our idea of “team-work” is extended also to our clients. At CTX, we strive to know our ship owners and operators clients as intimately as possible, effectively embedding our personnel into the client’s insurance and risk management teams. By gaining the deepest possible knowledge of our clients and their business, CTX can work towards building the widest-ranging, most cost effective insurance products and solutions.
CTX has had a presence in London since its creation. The office is now based at 40, Gracechurch Street, which is a two minute walk from Lloyd’s and equally close to the main offices of the seven International Group clubs run from London and the London offices of the other 6 clubs.
The office is run by an experienced underwriter who ran a division of one of the International Group P&I Clubs looking after both traditional shipowners and clients involved in offshore construction where reinsurance is not always available through the International Group Pool. Having spent some time teaching high school chemistry in one of the UK’s leading schools he returned to the marine insurance industry in 2017, and is an executive director of CTX. With contacts developed over more than 30 years, the London office offers a wealth of experience to CTX clients but above all seeks to reframe creatively clients’ risks, whatever the state of the insurance cycle.
“When I was looking to get involved with marine insurance after a period of teaching I knew that I did not want to just pick up where I had been at an International Group club so broking seemed the obvious place where my skills and contacts might be put to best use. That decision made, I thought back on the many hundreds of meetings I had with brokers, and it was clear to me that a smaller broker in which each client is valued individually rather than dealt with formulaically was going to be more appealing. CTX has an almost flat management structure in which we all deal with clients and underwriters every day, and we are small enough to all have a thorough overview of the whole business.”
Executive Director, London
CTX Special Risks is headquartered in Hong Kong, where there is an experienced team of marine brokers. Staff in Hong Kong have spent more than 40 years in the marine industry, and have worked from within ship owning companies to career broking. The office concentrates on servicing CTX’s clients in both Hong Kong and China in respect of both P&I and hull & machinery, and liaises closely with the insurance markets in those countries and throughout the region.
“Broking should be about talented individuals working as a team in order to provide insurance and risk management services of the highest professional standard but with a truly personal touch. My colleagues and I hope that through the establishment of CTX Special Risks we have achieved these aims and exceed your expectation. We wish genuinely to make a difference to the working life of our clients.”
Executive Chairman, Hong Kong
CTX’s office in Taipei is staffed by a large group of highly experienced marine brokers. Many of the staff have been with CTX since its inception, but the company is also pleased to have become the broker of choice for those setting out on a career in marine insurance. CTX Taipei has an extremely in-depth knowledge of all marine insurance disciplines, from P&I to hull & machinery cover for owners and charterers of ships, to both property and liability covers for ports and terminal operators with a full range of ancillary covers for these marine service providers and their financiers in between. The team are not only involved in front-end negotiation, but can also offer advice regarding the handling of claims, with the staff including a chartered average adjuster and qualified arbitrator. The team is also there to help ease the burden on our clients in respect of the paperwork required to trade ships, including the issuance of Bunker Convention Blue cards and arranging for Certificates of Financial Responsibility to be placed onboard ships bound for the US.
“In Taipei we are constantly presented with new and exciting challenges by our clients and friends. We are able to rely upon our own skills and experience and the breadth of knowledge of our colleagues in Hong Kong, China, Singapore and London to make sure that the advice and support that we give will help our clients overcome the obstacles and difficulties that working within the maritime community daily throws at them.”
Group CEO
CTX has correspondents in both Shanghai, Fuzhou, Qingdao and Guangzhou, taken from the fields of ship owning, chartering, insurance broking, technical ship management and marine insurance underwriting. They act to provide information regarding the domestic insurance market.
Hong Kong
CTX Special Risks Ltd. is an authorized insurance broker in Hong Kong, and a member of the Professional Insurance Brokers Association.
Taipei
CTX Special Risks (Taiwan) Ltd. is licensed by the Insurance Bureau, Financial Supervisory Commission of Executive Yuan, and is a member of the Insurance Brokerage Association of Taiwan.
| Hong Kong | Fuzhou | Guangzhou | London | Qingdao | Shanghai | Taipei | Kobe |
CTX Special Risks does not view its offices as separate business entities; while they may be located in separate geographical locations, the team works as a single body towards achieving the aims of our clients. There is no corporate-driven distinction between “wholesale” and “retail”.
We pride ourselves on the transparency of our operations, with every member of the team – albeit located in Hong Kong, Taipei, London or anywhere else in the world – being available at any time to provide a same-time service to our clients 24/7. Naturally, the offices are driven by certain skill-sets derived from the in-depth experience of the team members. Our colleagues in Greater China travel frequently and extensively throughout the Asia region to extend the best possible network of contacts with our clients and markets.
They also meet with the many underwriters, claims executives, surveyors, adjusters, salvors and lawyers from around the world who come to visit the region.
Our operational rationale is to reduce our clients’ operating costs by helping them to manage their exposure risks, allowing them to achieve improved overall profitability.
While the London office offers the most direct conduit for information into and out of the European marine insurance facilities it also provides the vital element of daily face-to-face contact with the market’s underwriters and claims handlers, building a level of trust that works as a constant benefit to our clients. Our English and Chinese qualified in-house marine lawyers, with many years of claims handling experience, can provide all of the team with in-depth analysis of contractual and liability issues.
CTX Special Risks is always looking to welcome talent. In order to ensure the highest possible standards of service to our clients we are happy to consider the qualifications and experience of anyone who believes that they can make a positive difference to our company and the business of our clients. If you feel that you are such a person, then you are welcome to submit your CV by e.mail, with covering letter, to the following:
Dominic Ng, CEO, CTX Special Risks
Fuzhou
Room 1719, C2 Building, R&F Center, No. 67 Shangpu Road, Taijiang District, Fuzhou, China
Guangzhou
3/F, Building C2-2, Huayu Creative Park, No. 68, Xingang East Road, Haizhu District, Guangdong, China
Qingdao
Unit 905, No. 2 Building, Huawo Building, No. 179 Shenzhen Road, Laoshan District, Qingdao, China
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