Munich Re Centralizes London Units

September 21, 2007

The Munich Re Group has moved three of its London market P/C core business units to one location at Plantation Place in Fenchurch Street. The goal is to “to maximize broker and client access to its insurance and reinsurance operations and ensure greater synergies between these key business units in the City of London,” said the bulletin.

“More than 40 underwriters from Munich Re UK General Branch (UKGB), Great Lakes Reinsurance (UK) PLC (Great Lakes), including MARP London, will offer cover for all single risk non-life business with the exception of marine and aviation,” the announcement continued. The new office will also serve as a contact point for brokers of treaty business for the UK and Ireland.

Sebastian Hüskes, General Manager of Munich Re UK General Branch, commented: “It makes business sense to have these key operations situated in a ‘One Stop Shop.’ It brings together in one place the entire Munich Re London non-life, non-Lloyd’s underwriting capacities, offers a contact point for UK and Irish Treaty business and provides clients with easy access to the whole range of Munich Re London services.”

Nick Parr, CEO of Great Lakes added: “The Munich Re Group has had a long-term presence in, and a commitment to, the London market. This move further underlines this fact. By bringing the different non-life entities together we will be able to fully utilize our insurance and reinsurance expertise, creative underwriting and innovative approach to initiatives building on our leading position in the market.”

Source: Munich Re – www.munichre.com

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