Swiss Re corporate solutions introduced that its new
fully-owned subsidiary, Swiss Re corporate solutions Advisors South Africa Pty
Ltd, is now licensed by the South African financial services Board to operate
within the us of a as a monetary services issuer (FSP).
Swiss Re stated that under the terms of the FSP license,
“Swiss Re corporate answers Advisors South Africa Pty Ltd will originate,
recommend on and bind direct commercial coverage enterprise in South Africa
through an middleman agreement with Guardrisk insurance company Ltd.,” a South
African-licensed non-existence insurer, “widely recognized in the nearby
marketplace for its recognition and solid economic standing with a Fitch score
of ‘AA+’ (South Africa-precise).”
Swiss Re corporate answers expects to begin operations
throughout the second region of 2015 from an office in Johannesburg.
The corporation will offer industrial insurance offerings to mid- and
large-sized company customers, that specialize in assets, mining and
engineering risks, in addition to customized answers for the agriculture and
energy sectors.
Tony Buckle, Swiss Re company solutions’ Head of Europe,
center East and Africa, commented: “South
Africa is a key excessive increase market
for us, based on the size and class of its business insurance area. The Johannesburg
workplace might be our first nearby representation in Africa,
and it will be a cornerstone of our method to offer regionally applicable
answers to customers.”
Herman Schoeman, coping with Director of Guardrisk coverage
added: “we are enthusiastic about the relationship with Swiss Re corporate
answers and the possibility to collaborate on turning in customized solutions
for customers in South Africa.”
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