Munich American Reassurance Company, a wholly owned subsidiary of Germany’s Munich Re, has completed the previously announced purchase of CNA Financial Corporation’s life insurance business, CNA Life Re and Agora Re.com.
The acquisition doubles MARC’s business in the U.S., and reaffirms the company’s commitment to the U.S. Life reinsurance market. It plans to integrate CNA Re’s operations into its own.
Jeffrey S. Katz, CNA Re’s former President will become a Sr. V.P.”in charge of MARC’s newly established Chicago office.” He will also head AgoraRe, “an e-commerce marketplace for facultative life reinsurance and other transactions between direct life insurance companies and their reinsurers.”|”munich, am, re, closes, cna, life, re, acquisition
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Kroger Plans to Slash 37% of Corporate Jobs in Next Three Years 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
NYC Restaurants Shut Off Air Conditioning, Close on Sundays as Costs Surge 
Harbor Emerges From Stealth with $10M Funding to Handle AI-Agent Risk 
