Swiss Re is extending its commitment to Asia by setting up a dedicated regional legal entity in Singapore for its reinsurance operations called Swiss Re Asia. Swiss Re will also make the entity its regional headquarters for its reinsurance operations in Asia. Swiss Re Asia will be owned by its Zurich-based parent, Swiss Re Ltd, and will share Swiss Re's group credit rating. Swiss Re expects the new headquarters to be fully set up in 2018 and the office network realigned to the new structure by 2020. The new structure of the reinsurance business will not affect Swiss Re Corporate Solutions in Asia. This move also aligns the company’s legal entity structure across its Asia, Europe and Americas regions. Swiss Re Asia will continue to serve its clients and partners across the region through its network of offices, mirroring its existing footprint in Australia, China, Hong Kong, India, Japan, Korea, Malaysia and Singapore. Jayne Plunkett, Swiss Re CEO Reinsurance Asia said, "This move demonstrates our commitment to Asia as we become even closer to the market. As one of Asia's largest reinsurers, we will continue to combine our global knowledge with even deeper insights into local and industry needs, to benefit our clients and partners."