US RE Companies, a financial services and reinsurance brokerage firm, has formed an alliance with with China's Shanghai Transceed Insurance Brokers, to provide brokerage and consulting services in the insurance and reinsurance sectors.

Under this partnership, both the firms will assist each other in services on insurance and reinsurance related activities inclusive of the co-development of business in the Chinese market.

Both the firms also agreed to establish a dedicated team of professionals to collectively market products and services in China.

Transceed is active in major sectors of the Chinese economy including energy, construction, manufacturing, and metallurgy.

Tal Piccione, chairman/CEO of US RE, and Chen Hui Xin, president of Transceed said in a joint statement that the two companies will devote business and technical resources to the alliance.