Hyderabad: Telangana minister for IT and Industries KT Rama Rao (KTR) on Monday announced that Swiss Re, the insurance giant, will be setting up an office in Hyderabad in August.
Swiss Re Global Business Solutions (GBS) India, the technology and analytical hub of the insurance company will focus on data and digital capabilities, product modelling, and risk management. “Happy to announce a big addition to Hyderabad BFSI ecosystem,” said KTR in a tweet.
The Hyderabad centre will start with an initial headcount of 250, he added.
In a press note, group chief digital and technology officer of Swiss Re, Pravina Ladva said, “Data is an essential fuel for Swiss Re’s business. Swiss Re is already well-positioned in India and expanding our presence with Hyderabad as a new location will provide an opportunity to onboard expertise in key digital roles, which will enable our business and help our clients succeed.”
Swiss Re is a 160-year-old insurance organisation, headquartered in Zurich, Switzerland and operates in 80 locations globally.