Swiss Re creates Asia P&C underwriting hub

May 23 2017 by InsuranceAsia News Staff

Swiss Re is establishing a combined property and casualty underwriting hub for the Asia Pacific region within its reinsurance business unit.

Sharon Ooi will lead the unit, as head of P&C underwriting for Asia, Australia & New Zealand. She will continue to be based in Singapore and work closely with Swiss Re’s local business heads in the region. She will also continue to serve as the chief executive for Swiss Re Singapore.

Victor Kuk will take on the role of head, P&C client markets for South-East Asia, India, Korea, Hong Kong and Taiwan, from Ooi. He is based in Hong Kong.

Both appointments will be effective on July 1, 2017.

The Asian insurance sector has seen strong growth over the past decade, with the region now accounting for 30% of global insurance premiums, compared to 20% in 2007.

The outlook remains robust. Swiss Re expects the region’s non-life and life premiums to grow by 5% and 6% respectively, in real terms per annum in the coming decade.