In Conversation With Blossom Lim
Blossom is our director based in China as part of Aon’s transaction liability practice in the Asia region. Prior to joining the team, Blossom practiced in leading international law firms where she advised multinational companies and investment banks on various cross border M&A transactions in Asia with a special focus on the Greater China region.
We spoke to her to find out what makes her tick and where she sees Aon’s M&A insurance business going in 2019.
Born in Singapore and trained in law in England, Blossom left her almost decade-long legal career in her home country to live and work in China about three years ago. Her journey to Beijing was all about her being ‘closer to the future’.
“As a lawyer, I assisted on many Chinese outbound transactions that came through via Hong Kong or Singapore,” says Blossom. “However, I always felt that I was merely ‘on the outside looking in’ and what I wanted was ‘to be on the inside looking out’. So, coming to live and work in China was the natural next step for me.”
Promoting transaction liability in China is a daily uphill battle – Blossom and her team need to drive up the interests of Warranty and Indemnity as a risk management mechanism, while also debunking the misconception that ‘insurance is the magic pill that can solve all problems’. But it is exactly this uphill battle that creates an opportunity – awareness is low, current demand is lukewarm, and competition is building momentum – all the necessary ingredients to place Aon as a forerunner in this space.
“I work closely with the local Aon teams to reach out to existing and prospective clients to create visibility of the Aon brand, to educate the market on new innovative products, and to create awareness of what Aon can offer,” Blossom explains.
Still, there is great opportunity in China now; and indeed, it’s a country that has the world taking notice. While sentiment for outbound transactions may be dampened by the backdrop of the Sino-U.S. trade war, fundamental drivers of gaining access to high technology, established international brands, distribution networks and natural resources are still in play.
While some observe a decrease in Chinese outbound transactions to Europe, this may be offset by an increase in volume to Southeast Asia as many Chinese companies have indicated Southeast Asia to be their top destination for investment opportunities, outperforming other destinations like North America, Europe and UK.
Aside from working on championing transaction liability in China, Blossom relishes exploring the country’s eight major ethnic cuisines in her free time (and sometimes also ‘moonlights’ as a hat seller at historical sites). “I love that I can be a chameleon in China,” she says. “Being bilingual gives me the best of both worlds. I am able to assimilate well into the local culture or choose to communicate in English as and when I am required to.”
Blossom appreciates Beijing’s diversity too, where the rich and the poor live in harmony. This dynamism is what has attracted her to live and work in the country. “China is the now and tomorrow, and this is where I want to be.”