CHINA RE OPENS SINGAPORE BRANCH

Chinese reinsurer China Re Group is looking to accelerate its international expansion after opening a branch in Singapore on Monday. The company said it established the branch following approval from the Monetary Authority of Singapore (MAS) in June to underwrite reinsurance business in Singapore. The approval marks a “solid step forward in our internationalisation process,” China Re said in a statement. At the opening, China Re Chairman Yuan Linjiang said that the branch is expected to be a stepping stone to gain exposure to markets of the Asia-Pacific region, to link the insurance markets between China and Singapore as well as other Asia-Pacific countries. China Re will focus on the key and emerging markets in Asian-Pacific region including Singapore, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, India and Indonesia.