KUALA LUMPUR, Malaysia—Swiss Reinsurance Co. Ltd. said Thursday it has expanded into general retakaful business in Malaysia and opened an office in Kuala Lumpur.
Malaysian authorities have granted a license that allows the Zurich, Switzerland-based reinsurer to offer family and general retakaful coverage worldwide from its Kuala Lumpur operations. Previously, Swiss Re offered only family retakaful—or insurance that complies with Islamic law—to clients in the region.
The Kuala Lumpur office is dedicated to retakaful business, which Swiss Re said in a statement signals a clear commitment to the reinsurer’s development of the market.
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