10 January 2014 Insurance

Nationale Suisse granted insurance licence in Singapore

Nationale Suisse’s new Singapore branch has received a licence allowing it to insure risks directly and to offer facultative reinsurance in Singapore and other Asian markets.

The licence, granted by the Monetary Authority of Singapore will allow National Suisse to underwrite more primary insurance and facultative reinsurance in Asia. It will offer marine, engineering and art sector insurance.

“Our increased presence in Asia will bring us even closer to the market players in this up-and-coming region, enabling us to better exploit its potential. We are thus creating another key driver of growth and income to underpin the long-term development of our specialty line business,” said Hans Künzle, CEO of the Nationale Suisse Group.

The Singapore office will operate as Swiss National Insurance Company (Singapore Branch) and is commencing its activities with immediate effect.

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