Munich Reinsurance America Inc. announced that John P. Phelan will retire as planned on Dec. 31, 2007, after serving nearly six years as its chairman and CEO. Anthony J. Kuczinski, who is currently president of Munich Re America’s Specialty Markets Division, will succeed John Phelan as CEO on Jan. 1, 2008.
John Phelan, 60, joined Munich Re in 1973. He was CEO of the group’s Canadian non-life reinsurance business for 16 years until March 2002. At the beginning of that month, he became Chairman and CEO of Munich Re America (then “American Re”) and was appointed to Munich Re’s Board of Management in April of the same year. Phelan will also retire from Munich Re’s Board of Management at the end of the year.
Kuczinski, 48, began his career with the company in 1989, holding a number of senior positions of responsibility. Under his guidance, Munich Re America’s Specialty Markets division has continually increased its contributions to the value of the Group.
Source: Munich Re America Corporation