TORONTO, Nov. 23, 2015 /CNW/ - Munich Re, a global leader in reinsurance, announced today that Marc-André Giguère will be joining as Senior Vice-President, Inforce Management, for the North American Life business. Mr. Giguère's appointment is effective today, November 23, 2015.
"Marc-André is a well-known and respected leader within the North American life insurance industry" said Mary Forrest, President and CEO, Munich Re, North America (Life). "His expertise and deep industry knowledge will create great value and bring our North American organisation to new levels."
Mr. Giguère spent 20 years working in the U.S. acquiring a broad and deep knowledge of the North American life insurance industry. Prior to joining Ernst & Young, where he was a Partner and the Canadian National Insurance Leader, he worked at Tillinghast - Towers Perrin in the U.S., and Crown Life insurance in Toronto.
In his new role, Mr. Giguère will be responsible for providing leadership and direction for Inforce treaty management, as well as strategic capital and tax management planning for both the Canadian and U.S. Life operations.
In Canada, Munich Re (Life) is a market leader in life and health reinsurance with premiums volumes of CDN $9.2 billion, and assets of $5.8 billion. It operates from offices in Toronto and Montreal.
In the U.S., Munich Re operates as Munich American Reassurance Company, based out of Atlanta, GA, with premium volumes of USD $2.7 billion and assets of $11 billion.
About Munich Re
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 2014, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of over €48bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €27bn 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 the ERGO Insurance Group, 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 2014, ERGO posted premium income of €18bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments amounting to €227bn 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 (Life)
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