Swiss Life Private Placement, a business unit of Swiss Life Group, officially opened its first Asia operation in Singapore today, marking the first life insurance license for Swiss Life outside of Europe in its over 150 years of history.
The official opening of the branch was attended by the guests of honour, H.E. Daniel Woker, the Swiss Ambassador to Singapore and Brunei Darussalam, Ng Nam Sin, Director of the Financial Centre Development & External Relations unit of MAS, Singapore’ and business partners.
The Singapore Branch will focus on customised concepts for private placement life insurance (PPLI). PPLI combines high-end life insurance with wealth management services, including retirement and estate planning.
Swiss Life Private Placement plans to contribute significantly to Swiss Life’s future growth by 2012, with a GWP of CHF 5 to 8 billion (SGD 6 to 9 billion) and assets under control of CHF 40 to 45 billion (SGD 51 to 58 billion). In 2007 the unit generated CHF 3.3 billion (SGD 4.2 billion) premiums and controlled assets of CHF 9 billion (SGD 12 billion). The Singapore Branch is expected to contribute 20% to the private placement business by 2012. The branch office will to start to offer the Life Asset Portfolio Asia, a life insurance product well suited for estate planning and the Variable Universal Life Asia, a multi-currency high death benefit product. Furthermore, the company will continuously add innovative solutions, such as the suite of US-compliant life insurance products to its offering.
The Singapore Branch will focus on customised concepts for private placement life insurance (PPLI). PPLI combines high-end life insurance with wealth management services, including retirement and estate planning.
Swiss Life Private Placement plans to contribute significantly to Swiss Life’s future growth by 2012, with a GWP of CHF 5 to 8 billion (SGD 6 to 9 billion) and assets under control of CHF 40 to 45 billion (SGD 51 to 58 billion). In 2007 the unit generated CHF 3.3 billion (SGD 4.2 billion) premiums and controlled assets of CHF 9 billion (SGD 12 billion). The Singapore Branch is expected to contribute 20% to the private placement business by 2012. The branch office will to start to offer the Life Asset Portfolio Asia, a life insurance product well suited for estate planning and the Variable Universal Life Asia, a multi-currency high death benefit product. Furthermore, the company will continuously add innovative solutions, such as the suite of US-compliant life insurance products to its offering.
Swiss Life
The Swiss Life Group is one of Europe's leading providers of life insurance and pension solutions.
The Group offers individuals and corporations a broad range of products combined with comprehensive advice through its own sales force as well as brokers and banks in Switzerland, France and Germany. It provides internationally operating corporations with employee benefits solutions from a single source, and is among the global leaders in structured life and pension products for high net worth individuals with its centres of competence in Luxembourg, Liechtenstein and Singapore.
Swiss Life is the majority shareholder of the Hanover-based AWD Group, one of Europe's top financial services providers for the medium- and high-income customer segments. AWD offers its clients independent financial advisory services. It employs over 6300 financial consultants in ten European countries.
Swiss Life Holding, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of around 9000.
The Swiss Life Group is one of Europe's leading providers of life insurance and pension solutions.
The Group offers individuals and corporations a broad range of products combined with comprehensive advice through its own sales force as well as brokers and banks in Switzerland, France and Germany. It provides internationally operating corporations with employee benefits solutions from a single source, and is among the global leaders in structured life and pension products for high net worth individuals with its centres of competence in Luxembourg, Liechtenstein and Singapore.
Swiss Life is the majority shareholder of the Hanover-based AWD Group, one of Europe's top financial services providers for the medium- and high-income customer segments. AWD offers its clients independent financial advisory services. It employs over 6300 financial consultants in ten European countries.
Swiss Life Holding, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of around 9000.
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This publication contains specific forward-looking statements, e.g. statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.