Nuclear missile tests by North Korea, a huge US naval force off the Korean peninsula and the war of words between US President Donald Trump and supreme leader Kim Jong-un appear to make it a less than auspicious time to launch a new Asian war-risks insurance syndicate.

But Jonathan Jones sees the timing issue rather differently.

"I think it illustrates the need for a new war-risks facility that will act in the interest of Asian shipowners," said Jones, who cut his underwriting teeth in the Lloyd's war-risks market nearly 40 years ago.