Munich Re supports the launch of DirectAsia.com in Singapore
2013/04/11
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A new direct-to-consumer insurance company, DirectAsia.com, was launched in Singapore on 24 June 2010. The company offers car, travel, home and personal accident insurance through its website and over the phone. In Australia and the UK the direct insurance model has already grown to dominate the sale of the types of general insurance products being offered by DirectAsia.com. It currently accounts for more than 65% of the market in the UK and 90% in Australia. Munich Re offers reinsurance support to DirectAsia.com. The reinsurance agreement also gives the insurer access to Munich Re’s international network, consulting expertise and extensive motor insurance know-how; underscoring Munich Re’s position as a high-value solutions provider.
Disclaimer
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.