In a statement today, Swiss Re Corporate Solutions explained that its wholly-owned Luxembourg subsidiary Swiss Re International SE has set up a branch in Singapore and received an insurance licence from the Monetary Authority of Singapore.
The newly licensed Swiss Re International SE Singapore branch begins operations immediately, offering a broad range of direct insurance products to large and upper end middle market corporate clients, as well as to captives in Singapore and selected markets in Asia.
In addition to standard property and casualty insurance, the product offering will include professional and financial lines, engineering, aviation, marine, credit and customised risk-transfer solutions.
Fred Kleiterp, head of Asia Pacific for Swiss Re Corporate Solutions, said the business was committed to the region for the long term.
“The licence will enable us to play a more prominent role in the region’s commercial insurance sector and better serve the domestic and wholesale markets.”
