As part of its ongoing efforts to optimise operations, Swiss Re Corporate Solutions has made a strategic decision to consolidate services for Chinese corporations within its mainland China offices.
With this in mind, Swiss Re CorSo has noted it will be surrendering its license in Hong Kong, subject to regulatory and legal requirements.
The firm added that existing business from Hong Kong will continue to be serviced.
In a statement on the matter, Swiss Re CorSo said, “Please note that this decision doesn’t impact our reinsurance business in Hong Kong, which operates under a separate legal entity.
“As a Group, we remain committed to the Hong Kong market. We are offering all necessary support to impacted staff and are in discussions with them to explore relocation and reassignment opportunities.”
Earlier this year, Swiss Re CorSo appointed Katie McGrath as Chief Underwriting Officer and unveiled a new organisational structure centred around Market Units.
As part of the announcement, Swiss Re CorSo introduced dedicated Heads for each Market Unit, reinforcing its commitment to helping clients manage risk through innovative commercial insurance solutions.
The Market Units and their respective leaders are as follows:
Asia (Greater China, Japan, Southeast Asia): Robert Hunziker, based in Singapore
Australia & New Zealand: Kevin Bates, based in Sydney
Canada: James Gasco, based in Toronto
France: Bruno Mostermans, based in Paris
Germany (including Austria): Tina Baacke, based in Munich
Ibero-America, Middle East & Africa: Angelo Colombo, based in Madrid
Switzerland, Benelux, Nordics, Italy: Michael Rüsch, based in Zurich
UK & Ireland: Nina Arquint, based in London
United States: Adrian Hall, based in New York
