Swiss Re has launched its headquarters in Asia and appointed a regional board of directors as it seeks to strengthen its position in the region.
The Asian unit, known as Swiss Re Asia Pte Ltd (Swiss Re Asia), is based in Singapore and is chaired by Lim Siong Guan, former group president of GIC, and now advisor to the GIC Group executive committee.
The board of directors includes 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.
The following external directors were also appointed to the board:
- 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 Hong Kong government;
- Urs Buchmann, vice chairman for Greater China at Credit Suisse AG’s Hong Kong branch.
The board of directors will provide Swiss Re Asia with external perspectives and point out emerging business trends across the region. Its composition seeks to combine the Asia-wide expertise of the external members and the global reinsurance know-how of Swiss Re insiders.
The launch of Swiss Re Asia also coincides with the 50th anniversary of Swiss Re’s Singapore office, which opened in 1968.
“It is significant that Swiss Re has set up its regional headquarters in Asia, reflecting the growing importance of the Asian market,” commented Jacqueline Loh, deputy managing director of the Monetary Authority of Singapore. “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.”
Jayne Plunkett, CEO of Swiss Re Asia, added: “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.”
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