Swiss Re celebrates Taiwan Branch opening
Group CEO Mr John Coomber and Ms Susan Chang, Vice Chairperson of Financial Supervisory Commission, Taiwan, officially opened Swiss Re’s Taiwan branch in Taipei on 29 September 2004, making Swiss Re the first international reinsurer to set up a branch in that market.
"We see branch status as the right platform for better understanding the challenges and opportunities of the market, and for building successful partnerships with our clients," remarked Mr Coomber at the grand opening reception.
Taiwan is the market where the first Asian catastrophe bond was launched outside of Japan, providing reinsurance coverage against residential property losses arising from earthquakes. ‘We are pleased that Swiss Re is here to share their global experience with the market, and help expanding the capacity of our local insurers,’ said Ms Chang at her speech.
Swiss Re, as a global leader in reinsurance, will continue to support Taiwan’s industry development with innovative products, for example in the area of securitisation.
Prior to the opening ceremony, Swiss Re experts shared their expertise with clients on various core industry topics at the Swiss Re Showcase. Fruitful discussions were made on topics such as insurance-linked securities, natural catastrophes and alternative risk transfer, as well as mortality and life risks.
The seal is the traditional Chinese way of signing and endorsing vital documents. John Coomber and Susan Chang are seen here putting Swiss Re’s stamp of approval for the official opening of Swiss Re’s Taiwan branch.
At the Swiss Re Showcase, Edouard Schmid, Head of DUO, P&C Asia Division, shared thoughts and ideas on how catastrophe bonds can benefit the industry in Taiwan.
Cheekok Poh, Head of Life & Health, Taiwan (left) and Ann Law, Head of Risk Management, L&H, Greater China, explain to clients mortality and health risks at the L&H marketing booth at the Swiss Re Showcase.
