Swiss Re gets IRDAI approval

Swiss Re is among the first five foreign companies to obtain a licence to sell reinsurance in India. Swiss Re’s newly licensed entity, Swiss Reinsurance Company, India Branch, will begin its operation from February 1. “We will continue to be actively involved in supporting the development of the Indian insurance market and making India’s society more resilient. Our clients and partners will benefit from a combination of innovative, customised risk transfer and capital management solutions, as well as our knowledge transfer and risk services support and delivery,” Jayne added.

Kalpana Sampat, currently managing director of Swiss Re Services India, will head the Swiss Re India branch as its chief executive officer (CEO). “India is a high growth market for us and we are committed to the healthy and sustainable growth of the insurance market here. With Swiss Re’s global experience, strong financial ratings, large net capacity, deep insight and proven underwriting knowledge, we have a strong value proposition for India and will generate significant value to our clients and partners in the market,” Sampat said.