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Swiss Re Corporate Solutions Establishes New Canada Branch

Swiss Re Corporate Solutions will establish a new Canadian branch of the North American Specialty Insurance Company (NAS).

In the release, Swiss Re Corporate Solutions said it had already submitted an application to regulators to establish a new NAS branch and would transfer operations to that location. In particular, the NAS branch will change its name to Swiss Re Corporate Solutions America Insurance Corporation – Canadian Branch once approved by US regulatory agencies.

The insurer also explained that the establishment of the Canadian branch will enable further strategic growth for Swiss Re Corporate Solutions by “reducing complexity and optimizing capital efficiency.”

Swiss Re Corporate Solutions also said the new branch is part of the current efforts of Swiss Re Group, the parent company to streamline the corporate structure of its business in North America.

Swiss Re Corporate Solutions said the NAS Canada branch will be operational in the second half of 2022, subject to the approval of Canadian regulatory agencies by the Financial Institutions Regulatory Authority (OSFI).

Swiss Re Corporate Solutions Establishes New Canada Branch

Source link Swiss Re Corporate Solutions Establishes New Canada Branch

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