The key to unlocking Asia-Pacific is product expertise that responds to clients’ needs—
as opposed to targeting growth in a specific region, Stuart Beatty of RKH Specialty
Asia tells SIRC Today.
Focusing on specific product lines and
building expertise around them with
relevance to clients—as opposed to
focusing on specific territories—has been key
to RKH Specialty’s strategy in Asia-Pacific,
according to Stuart Beatty, chief executive
officer for the region.
He said that this strategy reflects RKH’s
approach in other parts of the world—and it
has worked well so far in Asia-Pacific.
“Any initiative we have anywhere in the
world—in this case Asia-Pacific—is geared around
product lines at its core,” said Beatty. “We as a
business look at where the opportunities are
in the respective regions, and then invest and
structure the business accordingly where we
create specific products with regional context.”
Since taking on his role as regional CEO six
months ago, the business Beatty has taken on
in Asia focuses on building upon two existing
principal product lines: property and marine.
“My job is to take what is in place and help
expand the company’s overall specialty lines
offering,” he said. “The business is young in the
region and what we’re looking to do in the next
year or two is move it to a more adolescent stage.
“We’re three years away before we
see maturity as a business model in the
region when we will have a number of wellestablished
product lines trading across the
region which are meaningful contributors to
the respective product lines global activity.”
RKH Specialty operates on a product line
P&L rather than geographic P&Ls and as a
result the focus when discussing strategies
with the head of property, marine, energy
or any of the other product lines centres on
bringing the firm’s resources in all the major
international markets to bear.
“Depending on the client and country, how
we deliver our product expertise can take a
myriad of guises. We look at localised trading
conditions, competitor landscape, regulatory
issues, wholesale market authority and
appetites and overlay all this with where we
can invest with key people in the region to take
advantage of opportunities,” Beatty explained.
“My role is to help regionalise the strategy,
implement it and then manage it. You have to
SIRC Today Day 2 Wednesday October 31 2018
employ the right people and make sure you
have the appropriate licences and operational
structure in the region to best support a sales
and service-focused business.
“We’re trying to line up our placement
resource to marry up with these evolving
trends as clients will still be highly dependent
on good quality reinsurance capacity and
specialised product,” said Beatty.
“At the same time we’re looking at regions
where our clients are either a broker partner,
a domestic cedant, a managing general agent
(MGA), or a coverholder. We’re moving from a
London Market placement focus to embrace a
hub strategy therefore expanding to where the
key wholesale markets are in other parts of the
A wider view
Beatty pointed out that the firm’s hub
strategy isn’t limited to Asia-Pacific. RKH
Specialty is implementing the same strategy
for Latin America in Miami and the Middle
East in Dubai.
“If you were to have the same conversation
with my colleagues in those other parts of
the world, you would be hearing a consistent
message,” he added.
With RKH being a very client-centric
business, Beatty said it is important to
understand what clients’ needs are, as it
differs region by region.
“As an example, what has made RKH very
successful is our ability to deliver to clients,
often brokers themselves, specialist placement
capabilities into the London Market that add
value to our clients’ overall offering. It’s the
same whether the client is a broker, an insurer
or an MGA,” he said.
“When we’re sitting in front of a broker
partner, by extension their clients are our clients.
“We are very clear to our broker partners
that the value we’re trying to add to them
is relevant to all classes and across all the
relevant wholesale markets.” l
Stuart Beatty is regional chief executive for Asia-
Pacific, RKH Specialty. He can be contacted at
We’re moving from
a London Market
placement focus to
embrace a hub strategy.
Interview: Stuart Beatty, RKH Specialty
RKH keeps focus on product in Asia