Swiss Re International SE Japan Branch receives non-life insurance licence to offer commercial insurance to large corporate clients
05 April 2011, Tokyo
Swiss Re International SE Japan Branch (SRIJ), a member of Swiss Re Corporate Solutions, today announced it has received a non-life insurance licence from the Financial Services Agency (FSA) and started its operations on 1 April. The newly licensed branch will provide direct insurance to large corporate clients and offer a broad range of property and casualty industry-specific products, backed by the financial strength and expertise of the Swiss Re Group.
"While we share the pain and sorrow the Japanese nation has experienced as a result of the devastation caused by the massive earthquake and tsunami on 11 March, we would like to stress our firm commitment to providing long-term protection and capacity to corporate clients in Japan," said Juerg Stoll, SRIJ representative. "We are honoured to be one of the few new foreign companies in recent years to obtain a non-life insurance license in Japan. The license enables us to provide resources to Japanese corporate clients in response to developing corporate risk needs, especially when facing challenging circumstances such as the recent events."
As a local admitted insurer, SRIJ will support corporate clients in Japan with tailor-made solutions and capacity in areas such as Commercial Earthquake insurance and Commercial Liability protection. Combining the global resources of the Swiss Re Group with dedicated local expertise, SRIJ clients will benefit from its new products, stable capacity, underwriting expertise and global network.
SRIJ's broad range of industry-specific products and services for corporate clients in Japan mainly covers the following lines of business: Commercial Property, Stand-Alone Commercial Earthquake, General Liability, Product Liability, Directors & Officers Liability, Product Recall, as well as Engineering and Construction. Furthermore, SRIJ offers innovative risk transfer solutions such as Captive Retrocession and Multi-year programmes.
"Our offerings are expected to complement the existing products in the Japanese market," said Fred Kleiterp, Head of Europe, Middle East, Africa & Asia Pacific for Swiss Re Corporate Solutions. "We are committed to supplying long-term stable capacity in order to ensure adequate and sufficient insurance protection for our corporate clients' future needs, particularly after the devastating events the country has recently experienced. And when it comes, for example, to earthquake-related risks or increasing liability exposures such as global product liability or environmental impairment liability, SRIJ's presence will serve the Japanese commercial insurance market by better filling the gap between current and ideal protection levels."
Contact information for SRIJ office:
Otemachi First Square West Tower 9F1-5-1 Otemachi, Chiyoda-kuTokyo
Post code: 100-0004
Tel. : +81 3 5218 2160
For information about SRIJ, please visit www.swissre.com/corporatesolutionsjapan
Notes to editors
Swiss Re Corporate Solutions offers innovative, high-quality insurance capacity for single and multi-line programs worldwide. In Japan, our corporate insurance solutions are offered via Swiss Re International SE (SRI), rated “A+“ by Standard & Poor’s, “A1”by Moody’s and “A”by A.M. Best, which also has offices located in Luxembourg, the United States, Switzerland, the United Kingdom, Canada, Australia, Italy, Germany, France and Denmark. Swiss Re Corporate Solutions offers its capacity on a stand-alone basis, or as part of structured and tailor-made solutions. In addition, it provides customised risk transfer solutions to large, multi-national corporations across the globe to assist in mitigating their risk exposure. Swiss Re Corporate Solutions serves more than 50,000 customers across a network of 38 offices worldwide and is backed by the financial strength of the Swiss Re Group, a leading and highly diversified global reinsurer.
Swiss Reinsurance Company Ltd
Swiss Re is a leading and highly diversified global reinsurer. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
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