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Swiss Re Corporate Solutions Ltd. said Wednesday that it has opened a New York-based office to expand its North America marine team.
The team will provide ocean cargo insurance. “Our new team enhances our offering to North American clients by providing primary, following and excess ocean cargo — transit, stock throughput, and project cargo. Regional clients can access our world-class underwriting talent locally and still benefit from Swiss Re Group's strong financial ratings,” Robert Solitro, head of special lines North America said in Swiss Re’s statement.
Graeme Schultz has been named head marine North America. Previously, Mr. Schultz was marine underwriting manager at American International Group Inc.
“We are excited to fill an important missing local product offering for our North American clients and brokers. The marine expansion into North America reflects our commitment to building broad product offerings on a local basis in the region,” Bob Petrilli, CEO North America Corporate Solutions said in the statement.
Swiss Re Ltd. on Wednesday said its Admin Re unit will buy Guardian Holdings Europe Ltd., the holding company for Guardian Financial Services, from London-based private equity firm Cinven for £1.6 billion ($2.49 billion).