Nationale Suisse granted insurance licence in Singapore

It'll also tap other Asian markets.

According to a release, Nationale Suisse’s new Singapore branch has received a licence from the local authorities allowing it to insure risks directly and to offer facultative reinsurance in Singapore and other Asian markets.

This branch office of the Basel-based parent company is fully operational with immediate effect and offers tailored solutions in the engineering, marine and art sectors. It represents another long-term driver of growth and income for Nationale Suisse.

Having been involved in the Asian economic arena for seven years now from its regional base in Malaysia, the international Swiss insurance company Nationale Suisse has now received an insurance licence from the Monetary Authority of Singapore for its new branch in Singapore.

This allows the company to underwrite more primary insurance and facultative reinsurance in Asia. The newly licensed branch office of the Swiss parent company is operating under the name Swiss National Insurance Company Ltd (Singapore Branch) and is commencing its activities with immediate effect.

Hans Künzle, CEO of the Nationale Suisse Group, said: “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.”