Swiss Re Corporate Solutions announced last week the expansion of its Marine insurance footprint in Continental Europe through the formation of two dedicated underwriting teams in Zurich and Genoa, which will be led by Patrizia Kern-Ferretti and Andrea Cupido, respectively.
Swiss Re Corporate Solutions will establish a dedicated Cargo underwriting team in Zurich with focus on Continental Europe. In addition, a new office will be established in Genoa, which will offer a full spectrum of Marine insurance products to the Italian market and have the mandate to develop Swiss Re Corporate Solutions’ portfolio in the Hull segment throughout Continental Europe.
The Zurich-based underwriting team will be headed up by Patrizia Kern-Ferretti in her new role as Head Marine Continental Europe. Patrizia will oversee the Genoa operation, which will be led by Andrea Cupido, who joins Swiss Re Corporate Solutions from Cambiaso Risso Marine and has served the Marine insurance industry for over 25 years. The Genoa office is scheduled to start its operations on 1 May 2012.
"We have thoroughly analysed the global Marine market and believe that it offers substantial room for expansion and growth for a player such as Swiss Re Corporate Solutions, with our long-term vision, expertise and financial security," said Nikolaj Beck, Head of Specialties for Swiss Re Corporate Solutions.
"With this expansion, we are aiming at capturing growth in key markets. The move also leverages our existing Marine wholesale business in London and underwriting team in São Paulo."
While the Genoa office will have a dedicated Marine focus, our office in Milan, led by Luca Kovatsch, will continue to offer Swiss Re Corporate Solutions’ Property and Casualty products and services. Both offices are backed by the Group’s AA- rated insurance capacity.
"This expansion nicely complements our global offering as it enhances our ability to serve our clients throughout Continental Europe with solutions tailored to their specific needs,” said Patrizia. “Moreover, our local representation will allow us to access business that often does not get placed via the London wholesale market."