TransRe opens office in Singapore

TransRe has received a license from the Monetary Authority of Singapore for its fifth office in the region, joining Hong Kong, Shanghai, Sydney and Tokyo.

Paul Bonny, TransRe's president of Europe & Asia Pacific, said: “Over the past 35 years we have built our global network of offices to better serve local insurers and brokers by combining local knowledge and relationships with global experience and insights. Asia's insurance growth and market penetration continues at an incredible pace and Singapore is ideally positioned as a reinsurance center. I am confident our new office will help us build on our existing relationships in the region.”

Andy Taylor, TransRe's chief underwriting officer for Asia Pacific, said: “We are delighted to receive a branch license. Our industry is an important part of Singapore's economy and I am pleased we are joining it. I look forward to supporting its growth by building our branch, our portfolio and our local team with Rob Saville.”