The launch of a new European reinsurance underwriting platform, set to be based in Zurich, Switzerland, has today been announced by The Toa Reinsurance Company Ltd. (Toa Re).
Toa Re has decided to activate its wholly owned subsidiary Toa 21st Century Reinsurance Company Ltd. (TTFC), domiciled in Switzerland since 2002 and which assumes reinsurance from its parent, under the trading name Toa Re Europe.
The new company is expected to write third party business, in addition to existing business from its parent.
Under the leadership of Chief Executive Officer (CEO) Phillippe Regazzoni, Toa Re Europe is aimed at furthering the development of Toa Re’s European portfolio, currently written in Tokyo.
As development of Toa Re Europe continues, they are preparing to secure experienced underwriters and other local professionals, as well as obtaining and fulfilling regulatory requirements.