Swiss Re Corporate Solutions has expanded operations in Malaysia, with the launch of a new local office in Kuala Lumpur.
The office, which began operations on March 1st, 2017, will service large and upper mid-sized Malaysian businesses through broking partners and intermediaries, and will function under a Labuan FSA reinsurance license.
Fred Kleiterp, Asia-Pacific Chief Executive Officer (CEO) for Swiss Re Corporate Solutions, said; “Malaysia is a key focus for us and having a local presence will enable us to more closely collaborate with the market.
“We will use our large net capacity, and the financial strength of the Swiss Re Group to provide traditional and customised reinsurance solutions to corporations across several industries, including oil and gas, manufacturing, agriculture, marine, aviation and construction.”
Swiss Re leader, Juerg Stoll, will head up the Malaysia office and report to Jonathan Rake, Head South East Asia at Swiss Re Corporate Solutions.
He boasts over 30 years of industry experience, and has knowledge of Asian markets, having recently served as Country Head Japan at Swiss Re Corporate Solutions.
Stoll commented; “I’m enthused about building a long-lasting presence in Malaysia and supporting the country’s economic growth ambitions with reliable contingent capital. I’m also excited to have the chance to further strengthen our unique brand in Malaysia.”
Rake welcomed Stoll to the team; “I’m excited that Juerg is joining our South East Asia team as we continue to strengthen our local market position.
“Juerg’s industry experience and track record of establishing operations and launching new products make him the ideal partner to deliver on our ambitious plans. I’m looking forward to building our team in Malaysia further from the local insurance talent and providing clients and brokers with our world-class solutions and services locally.”
Swiss Re now serves clients and brokers in APAC from 11 offices in six countries: Australia, China, Hong Kong, Japan, Malaysia and Singapore.