PartnerRe Ltd. announced last week that Partner Reinsurance Asia Pte. Ltd. (“PartnerRe Asia”) a wholly owned subsidiary of PartnerRe Ltd. has been licensed by the Monetary Authority of Singapore (MAS) to operate as a nonlife and life reinsurer, capitalized in Singapore.
As of Apr. 1, 2015, PartnerRe Asia will be the principal reinsurance carrier for PartnerRe’s business underwritten in Asia Pacific (“APAC”).
Alain Flandrin, currently Head of Partner Reinsurance Europe SE, Singapore branch, has been appointed CEO PartnerRe Asia.
PartnerRe President and Chief Executive Officer Costas Miranthis said, “PartnerRe has supported the growth of insurance business in the APAC region since the company was founded in 1993. Over the past year, we have localized more business in Singapore and Hong Kong and increased underwriting resources in the region to enhance proximity and responsiveness for clients.
“The establishment of PartnerRe Asia supports our growing underwriting presence in the region and reflects the region’s importance to our Group strategy.”
Source: PartnerRe Ltd.