• New GBS centre in Hyderabad will add capabilities in delivering global solutions focusing on digital, data and technology
• GBS India serves as an analytical and innovation hub for the group and have a pool of over 1600 employees
• Earlier Swiss Re reported a net loss of USD 248 million for the first quarter of 2022 compared with a net income of USD 333 million for the same period of 2021

Swiss Re Global Business Solutions (GBS) India which operates as the analytical and innovation hub of Swiss Re, has announced its expansion plans. GBS has announced that it will launch a new centre in Hyderabad in September 2022.

The new GBS centre is set to further strengthen Swiss Re’s commitment towards India and will add   capabilities in delivering global solutions focusing on digital, data and technology. Swiss Re GBS India was established in 2001 as a centre of excellence and since its establishment it has built strong foundations for delivering across the entire business value chain. GBS India centre is the third largest office location for Swiss Re Group. Centre focus on innovation and help in driving business impact as well as building global expertise and capabilities.

GBS India serves as an analytical and innovation hub for the group and have a pool of over 1600 employees and help in accelerating Swiss Re’s competitiveness across markets. Businesses are globally operating in a dynamic environment with an ever-increasing risk of technology led disruptions. In such a scenario the expansion of analytical and innovative capabilities, will help in strengthening the business of Swiss Re.

Today, Bangalore is Swiss Re’s third-largest office. Both the Bangalore and Hyderabad centres are expected to have a global impact on the company reinsurance business and will provide improved business results for Swiss Re and its stakeholders, clients, and partners. Both Bangalore and Hyderabad are currently developing skills in data science, engineering, and a variety of other fields.

The Swiss Re Group is a global leader in reinsurance, insurance, and other insurance-based risk transfer, dedicated to making the world more resilient. From natural disasters to climate change, from ageing populations to cybercrime, it anticipates and controls risk.

Russell Higginbotham, CEO Reinsurance Solutions at Swiss Re said, “Data and technology is core to how we do business”.Mr Higginbotham emphasised that data and technology plays a key role in growth and product innovation. Technology plys a significant role in managing as well as mitigating risk. Mr Higginbotham further said that technology investment works hand in hand with developing stable, long-term teams with skills, services, and knowledge that add value to the Swiss Re business.

Earlier Swiss Re reported a net loss of USD 248 million for the first quarter of 2022 compared with a net income of USD 333 million for the same period of 2021. Losses were triggered by Russia’s invasion of Ukraine, ongoing COVID-19 pandemic, and financial market volatility.

Swiss Re’s is adequately capitalised. As of 1 April 2022. Groups capital position remained very strong. The Group’s Swiss Solvency Test (SST) ratio remained in the upper half of 200–250% target range.

Staff Galactik Views