TORONTO, May 1, 2017 /CNW/ - "Now more than ever we are seeing dramatic changes in our industry. It is a very exciting time to be part of this, and Munich Re is committed to being a leading player in the market. Our culture of innovation will be fast forwarded with the changes we are making to our executive team in Canada," said Forrest.
Bernard Naumann has been appointed President and CEO of Munich Re, Canada (Life). In this role, Naumann will develop and execute the Canadian reinsurance business strategy for Canada and the Caribbean. His depth of knowledge in Individual and Group reinsurance, his adaptability, and his excellent relationships with clients have led him to senior leadership roles throughout his career. Naumann was appointed Senior Vice President, Individual Reinsurance in 2007 and then Senior Vice President, Reinsurance, overseeing all business lines, in 2016. With over 20 years of experience, his new appointment will serve Canadian and Caribbean clients well.
Richard Letarte has been appointed President and CEO of Munich Re's New Ventures, a division of North America (Life and Health). He will be leading innovation initiatives which focus on developing new products and services, and investments into new technologies. Letarte was named Senior Vice President, Innovation, for the Canadian Life business in 2016 where his business acumen and entrepreneurial spirit, coupled with nearly 30 years of experience in Group Insurance as well as Individual Life and Living Benefits products, made him an excellent fit.
Other appointments within Munich Re North America's executive team include:
Lloyd Milani has been appointed Chief Risk Officer of North America (Life and Health). In this role, Milani will continue to be responsible for enterprise risk management of Life business in Canada and the United States, with the added responsibility of the North American Health insurance and reinsurance business.
Marc-André Giguère was appointed Senior Vice President, Inforce Management, North America (Life and Health) in 2015. He leads and directs Inforce Management for Life and Health operations in both Canada and the United States.
Juan Serrano was appointed President and CEO of Munich Health, North America in 2015. He joins the combined Life and Health executive team to manage the North American health care business in insurance and reinsurance operations.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2016, the Munich Re Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €2.6bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2016, ERGO posted premium income of €16.0bn. Munich Re's global investments (excluding insurance-related investments) amounting to €219bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
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.
SOURCE Munich Re Canada
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