Global reinsurance giant Swiss Re has strengthened its presence in Asia with the launch yesterday of its regional headquarters, Swiss Re Asia, in Singapore, and the appointment of a new regional board of directors for the entity.
The board of directors of Swiss Re Asia is chaired by Mr Lim Siong Guan, former Group President of GIC, and now Advisor to the GIC Group Executive Committee. Additional external directors to the Board are:
- Masaaki Shirakawa, Professor at Aoyama Gakuin University and former Governor of the Bank of Japan;
- Deanna Ong Aun Nee, Chief People Officer and Managing Director at GIC;
- Raymond K. F. Ch’ien, Chairman of Hang Seng Bank, Member of the Board of Directors of Swiss Re, the Hong Kong and Shanghai Banking Corporation and China Resources Power Holdings Company, Member of the Economic Development Commission of the Government of the Hong Kong SAR; and
- Urs Buchmann, Vice-Chairman, Greater China at Credit Suisse Hong Kong Branch.
The board of directors also comprises five members of Swiss Re's Group Executive Committee: Thomas Wellauer, Group Chief Operating Officer; Patrick Raaflaub, Group Chief Risk Officer; David Cole, Group Chief Financial Officer; John R. Dacey, Group Chief Strategy Officer; and Jayne Plunkett, CEO of Swiss Re Asia.
The board of directors will provide Swiss Re Asia with external perspectives and identify emerging trends that have the potential to affect its business across the region. The composition of the board of directors ensures that the Asia-wide expertise of external board members complements the global reinsurance experience of the members from Swiss Re's Group Executive Committee.
Commenting on the launch, Ms Jacqueline Loh, Deputy Managing Director of the MAS, said: “It is significant that Swiss Re has set up its regional headquarters in Asia, reflecting the growing importance of the Asian market. Through their long-term commitment to Asia, Swiss Re is fulfilling its important role in protecting societies against risk. We are pleased that Swiss Re has chosen Singapore as its base, and strengthening Singapore’s status as a global capital for Asian risk transfer.”
Chairman of Swiss Re Asia's board of directors, Mr Lim Siong Guan, said: “The board and I are excited by the opportunities in this region and how Swiss Re Asia can be best positioned to tap into them. Asia has experienced strong economic growth and development in recent years. This naturally comes with additional risk for businesses, governments and societies. As the world becomes more interconnected, the nature of risks develops: geopolitical uncertainty, growing environmental concerns, ageing populations and new health challenges become significant issues to be addressed in this region.”
Swiss Re Asia's CEO, Ms Jayne Plunkett, said: “Swiss Re has a long, established history in Asia dating back to 1913 and the region has always been a key pillar of our business. The establishment of our regional headquarters in Singapore and a regional board of directors demonstrates our commitment to Asia. It brings us closer to market and allows us to better serve our regional clients through deep local insights combined with our unique global expertise.”
The launch of Swiss Re Asia also coincides with the 50th anniversary of Swiss Re's Singapore office opening in 1968.
Swiss Re has eight offices and 1,900 staff throughout Asia, offering services and solutions which range from Life & Health to Property & Casualty, across the entire value chain – from product design, distribution, underwriting to administration.