Swiss Re Appoints P&C Reinsurance Chief for Hong Kong and Taiwan

By Rebecca Ng
A.M. Best Company, Inc.

Global reinsurer Swiss Re appointed Anna Lee as head of property/casualty reinsurance for Hong Kong and Taiwan, with effect from March 1, 2012.

Hong Kong-based Lee joined the reinsurer in 2003 and has been responsible for the company's property/casualty treaty business and client relationships in Hong Kong and Taiwan, said Swiss Re.

She gained direct insurance experiences at MSIG HK and Chubb Federal in the Hong Kong market before joining the reinsurer.

The Hong Kong and Taiwan markets reported 2010 nonlife insurance premium growth rates of 2.2% and 2.9%, while the estimated growth rate in 2012 are 4% and 6.4%, respectively, according to Swiss Re.

Europe remains Swiss Re's largest geographical area accounting for approximately 41% of premiums while Asia generated approximately 15% of net earned premiums, according to BestLink. However, Swiss Re sees significant growth potential in this area, which could compensate for a decline of premiums due to clients' growing appetite for a higher net retention and pressure on prices in the United States and Europe.

(By Rebecca Ng, Hong Kong news editor: [email protected])