TORONTO, Dec. 13 /CNW/ - Munich Re, a global leader in reinsurance, today
announced the appointment of Mary Forrest to the position of President and
Chief Executive Officer of Munich Re's Canadian & Caribbean life and health
reinsurance operations, effective January 1, 2008. In addition to this
appointment Ms. Forrest has also been named Chair of Munich Re's U.S. life
company, Munich American Reassurance Company, and Head of North America
(Life), a newly created position.
Ms. Forrest has been with Munich Re for more than 16 years. Under her
leadership, most recently as Executive Vice President, Individual Life inforce
volume grew to the extent that Munich Re is the largest mortality risk taker
in the Canadian market. Ms. Forrest is a Fellow of the Society of Actuaries
and the Canadian Institute of Actuaries.
"Mary Forrest is an ideal choice for these roles. She is client-focused,
an inspired leader, and has proven her ability to achieve unprecedented levels
of top line and bottom line growth. She has also improved our global business
by promoting the development and transfer of expertise and best practices
across the Munich Re Group as Chair of the Global Financial Reinsurance Task
Force, team member for the Global Strategy Project, and through a number of
other global initiatives," said Dr. Wolfgang Strassl, Member of the Board of
Management, Munich Re. "She has demonstrated the precise qualities needed to
ensure that the Canadian and U.S. operations work together optimally while
retaining their unique identities."
Ms. Forrest succeeds Jim Brierley who is retiring after 32 years with the
Company, including 10 years as President, and more recently as Chair of Munich
American Reassurance Company. Under Mr. Brierley's leadership, Munich Re's
Canadian and Caribbean business experienced unprecedented growth and
profitability and became one of its most successful and vital international
Mr. Brierley has also played a significant role in the Canadian insurance
industry. Most recently, he served as the 2005/06 Chairman of the Canadian
Life and Health Insurance Association, after two terms on its Board of
Directors. During his career with Munich Re, he was an active member of the
Canadian Institute of Actuaries (CIA) serving on numerous committees and its
governing Council as both a member and a Vice-President before his election as
President of the CIA for the 1993/94 term.
"Jim Brierley has not only led an extraordinarily successful company by
any measure, he has developed an outstanding team of professionals whose
contributions benefit not only our Canadian and Caribbean operations, but
Munich Re's Global Life operations as well," Dr. Strassl said. "We are
extremely appreciative of his personal contributions and wish him well in his
About Munich Re
The Munich Re Group operates worldwide, turning risk into value. In the
financial year 2006, it achieved a profit of (euro)3,519m, the highest since
the company was founded in 1880, on premium income of approximately
(euro)37bn. The Group operates in all lines of business, with around 37,000
employees at over 50 locations throughout the world and is characterised by
particularly pronounced diversification, client focus and earnings stability.
With premium income of around (euro)22bn from reinsurance alone, it is one of
the world's leading reinsurers. Its primary insurance operations are mainly
concentrated in the ERGO Insurance Group. With premium income of almost
(euro)17bn, ERGO is one of the largest insurance groups in Europe and Germany.
It is the market leader in Europe in health and legal expenses insurance, and
33 million clients in 25 countries place their trust in the services and
security it provides. The global investments of the Munich Re Group amounting
to (euro)177bn are managed by MEAG, which also makes its competence available
to private and institutional investors outside the Group.
In Canada, Munich Re is the market leader, providing innovative
reinsurance solutions to clients across Canada and the Caribbean for
Individual Life, Disability, Critical Illness, Long Term Care, and Group Life
and Health insurance with offices in Toronto and Montreal.
For further information:
For further information: Helene Michaud, Director, Marketing, (416)