Global reinsurer, Munich Re, announced it is expanding its presence in the U.S. health reinsurance business with the opening of a new regional office in Minnetonka, Minn.
The company said this decision was taken to seize opportunities arising from the new national health reform law known as the Affordable Care Act (ACA), also referred to as “Obamacare.” The law is causing significant changes in how healthcare will be financed and delivered to the public.
The Minnetonka office will be led by David Sipprell, president of Munich Re’s managed care unit. “There is a deep pool of executive management, underwriting and actuarial talent throughout the Minnesota region. At the same time many of our clients also reside in this area, so it makes perfect sense for us to have a permanent presence here,” he said.
The new Munich Re office will have a staff of eight and ample room for expansion. Currently, the staff primarily services Munich Re’s managed care unit, but plans call for additional resources in support of both the reinsurance and stop loss business.
The new office is located at Crescent Ridge II, 10900 Wayzata Blvd., Suite 620, Minnetonka, MN 55305.
Munich Health is one of three business segments of Munich Re. All international health care business in insurance and reinsurance operations, as well as related services are pooled under the Munich Health brand.
Source: Munich Re