Swiss insurer Nationale Suisse obtains insurance licence in Singapore
The Singapore branch of Swiss insurance group Nationale Suisse has been granted a licence to operate in the republic, the company said on Thursday.
It will now be allowed to insure risks directly and to offer facultative reinsurance, in which contracts are negotiated separately for each specific insurance policy, in Singapore and other Asian markets.
Nationale Suisse's offerings here will include tailored solutions in the engineering, marine and art sectors, it added.
The branch will operate under the name Swiss National Insurance Company (Singapore Branch) and will commence its activities with immediate effect.