Swiss Re sets up advisory firm

Swiss Re, a diversified global insurer, has set up an advisory firm, Swiss Re Healthcare Services, in India. The new entity will focus on individual product development and corporate health schemes to assist health insurance companies in the country.

Girish Rao, former CEO of TTK Healthcare Services (the TTK Group-Swiss Re joint venture), has been appointed the managing director of the new company.

The Bangalore-based company's product development expertise will focus on assisting health insurance providers develop comprehensive insurance products on medical expenses.

"Swiss Re Healthcare Services is designed to enhance the existing market skills in product development, pricing and risk management for the country's growing health insurance industry," said Jean-Michel Chatagny, managing director (Asia), Swiss Re.

The company has been operating in the country since 1998. It established Swiss Re Shared Services in Bangalore in 2001. In 2007, Swiss Re entered into a joint venture with India's TTK Group by acquiring 26 per cent of TTK Healthcare Services.

With Girish Rao taking the new role, S Krishnamurthy has been appointed the CEO of TTK Healthcare Services.