nationale suisse bags insurance license from mas
By Chang Lin Zhu, 9 Jan 14
Swiss insurance group Nationale Suisse has received an insurance license from the Monetary Authority of Singapore for its new branch.
This will enable the company to underwrite more primary insurance and facultative reinsurance, in which contracts are negotiated separately for each specific insurance policy, in Singapore and other Asian markets.
The new branch office commences its operations with immediate effect under the name Swiss National Insurance Company (Singapore branch) and offers tailored solutions in the engineering, marine and art sectors, the company said.
Hans Künzle, chief executive of the Nationale Suisse Group, said: "Our increased presence in Asia will bring us even closer to the market players in this up-and-coming region, enabling us to better exploit its potential."
“We are thus creating another key driver of growth and income to underpin the long-term development of our specialty line business."
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