Swiss Re commercial unit gains clearance in Mexico
Swiss Re Corporate Solutions has announced it has obtained regulatory approval to provide direct commercial insurance in Mexico to mid-sized and large companies and government entities against large risks.
The commercial insurance subsidiary of Swiss Re, said local insurance authorities licensed the newly created Swiss Re Corporate Solutions Mexico Seguros to work in the country as an insurer. It began operations on January 2 from its Mexico City office.
"The financial backing and global expertise of the Swiss Re Group allow us to protect Mexican entities from large risks," added Newton Queiroz, Swiss Re's head of sales in Latin America in a statement. "We look forward to working with clients and brokers throughout the country, which is a strategic market for corporate solutions' long-term growth."
Swiss Re Corporate Solutions has been registered as a foreign reinsurer in Mexico since 2014. In addition to Mexico City, the company serves clients and brokers throughout Latin America from offices in Bogota, Cali, Medellin, Rio de Janeiro and São Paulo.
Under the license, the insurer will offer multi-line insurance coverage through agents and brokers with an initial focus on engineering and construction, general liability, marine and property.
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