Swiss Re, the largest reinsurer in the world, has strengthened its presence in Asia with the launch of its regional headquarters, Swiss Re Asia Pte. Ltd. (Swiss Re Asia), in Singapore, and the appointment of a new regional Board of Directors for the entity.
“The Board of Directors will provide Swiss Re Asia with external perspectives and identify emerging trends that have the potential to affect our 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.'' said a Swiss Re press release..
Chairman of Swiss Re Asia's Board of Directors, Lim Siong Guan, says: “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. We look forward to working with our clients and partners here to tackle these challenges and make Asia’s societies more resilient.”
Jayne Plunkett, Swiss Re Asia's CEO
Swiss Re Asia's CEO, Jayne Plunkett, says: “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 Board of Directors of Swiss Re Asia is chaired by 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 Ltd, the Hong Kong and Shanghai Banking Corporation Ltd and China Resources Power Holdings Company Ltd, Member of the Economic Development Commission of the Government of the Hong Kong SAR; and
-Urs Buchmann, Vice-Chairman, Greater China at Credit Suisse AG 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, Chief Executive Officer of Swiss Re Asia.
Signs MoU with NIA to develop insurance industry skills in India
Swiss Re's Global Business Solutions unit in India has signed a memorandum of understanding (MoU) with National Insurance Academy (NIA), Pune, India’s premier institute of insurance education to collaborate as a technical partner to the latter's academic activities and programmes. The initiative aims to develop re/insurance skills, insights and expertise among students and professionals aspiring to pursue careers in insurance in India.
Through this partnership, Swiss Re will use its global and local market expertise to support the development of the course curriculum for NIA’s flagship Post Graduate Diploma in Management (PGDM) insurance programme. Swiss Re will also provide access to bespoke workshops and create specialist modules and seminars on risk management, insurance, reinsurance, and data analytics. There will be a regular programme of guest lectures by Swiss Re experts that will span different insurance business lines, including health, motor, life, property, and casualty.
In addition, Swiss Re will work with NIA to explore the prospect of establishing a specialist course in actuarial science. This is in response to the rapidly growing demand for actuaries in India and is a conscious effort to help close the gap between rising demand for qualified actuaries and their limited availability at present.
Commenting on the MoU, Amit Kalra, Head of Global Services, Bangalore, Swiss Re Global Business Solutions India Private Limited, says: “Swiss Re’s partnership with NIA is an important step in our ongoing efforts to increase the availability of suitable talent for India’s insurance industry. We look forward to working with NIA, bringing Swiss Re’s global expertise and understanding of the Indian market to train young people for fruitful careers in risk management.