Swiss Re will be applying to the Colombian Superintendent of Finance for approval to open a representative office in Bogotá, Colombia to serve as a first port of call for reinsurance clients in Colombia and other countries in the Andean Region.
Swiss Re intends for its Bogotá representative office to act as a sales base for treaty and facultative business in all reinsurance lines and will rely on support from Swiss Re offices in Miami and Mexico City. The Bogotá office will also provide local access to Swiss Re’s hundreds of technical experts in all lines of business.
Swiss Re’s commitment to Latin America began more than 100 years ago. It has served the Colombian and Andean markets since 1952, when it signed the first treaty with a Colombian company.
Since then, Swiss Re has played a key role in the Colombian re/insurance industry and maintained top-notch service as well as consistent growth by continuously adapting its organizational model in line with economic situations. The company is confident that a local representative office will further accelerate this growth and allow Swiss Re to better apply its financial strength and global experience to support the region’s extraordinary economic development.
Eric Smith, CEO of Swiss Re Americas and a prime mover behind the opening of this office, said, “Colombia has successfully overcome challenges to set a new benchmark for the region in managing country risks. When I see our Andean clients’ commitment to using insurance as a catalyst for economic growth, it inspires me to think of more and better ways to partner with them to drive progress.”
The opening of this office is subject to the approval of the Colombian regulatory authorities. The Superintendencia Financiera de Colombia is aware of its intent to file for regulatory approval to open a representative office; Swiss Re will announce appropriate updates in due course. In the meantime Swiss Re continues to support its clients in Colombia and the Andean Region through the existing dedicated team under the management of Margo Black, Head of Reinsurance Latin America South and Francisco Majos, Head Andean Region.