Swiss Re, the world's second-largest reinsurer, on Wednesday announced launch of its regional headquarters, Swiss Re Asia Pte. Ltd., in Singapore.
The board of directors of the new entity Swiss Re Asia is chaired by Lim Siong Guan, former group president of GIC, and now advisor to the GIC group executive committee, the company said in a statement.
"It is significant that Swiss Re has set up its regional headquarters in Asia, reflecting the growing importance of the Asian market," Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore said in a statement.
Additional external directors to the Swiss Re Asia board include 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, among others.
Zurich, Switzerland-based Swiss Re Group is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer.
Founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally, including Australia, China, Hong Kong, India, Japan, Korea, Malaysia and Singapore.