The Australian and New Zealand property and casualty reinsurance and insurance liabilities of Swiss Re will now be handled by its Australian branch.

New and renewal reinsurance and insurance business will also be written through this branch from January 1.

Swiss Re spokesman Helen Black told Sunrise Exchange News that previously all casualty reinsurance and insurance liabilities in Australia and New Zealand were handled through Swiss Re Australia and the Mercantile and General Reinsurance Company of Australia.

Now they will be transferred to the existing branch of Swiss Reinsurance Company.

“We’re transferring all the Australia and New Zealand liabilities to the Australian branch so we’ll become a branch of Swiss Re,” she said.

The change will have no impact on the legal structure of Swiss Re Life & Health Australia or its operations in Australia and New Zealand.