Willis Appointed Broker For Hong Kong Rail Project

NU Online News Service, July 22, 12:18 p.m. EDT

Willis Group Holdings has been appointed as the broker for a high-speed rail project in Hong Kong by MTR Corporation Ltd.--the operator of Hong Kong's rapid transit railway system.

According to Willis, "The Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link will provide high-speed rail services from Hong Kong to Shenzhen in Mainland China."

It also will connect Guangzhou with the national high-speed passenger rail network, serving major cities throughout the People's Republic of China, Willis said.

The project includes construction of a terminus station in West Kowloon and more than 16 miles of twin track tunnels, Willis said, adding that the trains on the Hong Kong section are intended to operate at speeds of 124 miles per hour.

As for coverage for the project, Willis said it will be placing a construction all risk/third party liability policy, utilizing both global and local market capacity. Additionally, Willis said it will procure a wrap-up owner-controlled employee compensation policy that will be placed in the Hong Kong market.

"Willis will provide extensive risk management support, claims handling and on-going servicing throughout the life of the project," the international broker said.

Roger Wilkinson, chief executive officer, Willis Asia, said, "The Express Rail Link project is of great strategic importance for Hong Kong and we are proud to be able to support MTR with innovative insurance and risk management solutions to facilitate their expansion."

Willis is already the broker for MTR's operational program and was appointed broker for the $1.3 billion West Island Line (WIL) extension project in 2008.

The Express Rail Link project is scheduled for completion by 2016.