Swiss Re has announced the launch of its new regional headquarters in Singapore, Swiss Re Asia Pte, and has appointed a new regional Board of Directors to head up Asia operations.
Lim Siong Guan, former Group President of GIC, and now Advisor to the GIC Group Executive Committee, was named as Chair of the Board of Directors of Swiss Re Asia.
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 Dacey, Group Chief Strategy Officer; and Jayne Plunkett, Chief Executive Officer of Swiss Re Asia.
Chairman of Swiss Re Asia’s Board of Directors, Lim Siong Guan, said; “The board and I are excited by the opportunities in this region and how Swiss Re Asia can be best positioned to tap into them.
“Asia has experienced strong economic growth and development in recent years. This naturally comes with additional risk for businesses, governments and societies. We look forward to working with our clients and partners here to tackle these challenges and make Asia’s societies more resilient.”
The Board of Directors will provide Swiss Re Asia with external perspectives and emerging trends with potential to impact business in the region, its composition was designed to ensure that the Asia-wide expertise of external Board members complements the global reinsurance experience of the members from Swiss Re’s Group Executive Committee.
Swiss Re Asia’s Chief Executive Officer (CEO), Jayne Plunkett, commented that “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.”
Additional external directors to the Board were named as: 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 Ch’ien, Chairman of Hang Seng Bank, Member of the Board of Directors of Swiss Re, the Hong Kong and Shanghai Banking Corporation and China Resources Power Holdings Company, 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.
Commenting on the launch, Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore, said; “It is significant that Swiss Re has set up its regional headquarters in Asia, reflecting the growing importance of the Asian market.
“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.”