American Re-Insurance Company out of Princeton, N.J. announced that in September 2006 it will change its name to Munich Reinsurance America, Inc.
As Munich Re’s largest reinsurance subsidiary, Munich Reinsurance America, Inc. will continue to operate as a separate corporate entity in the U.S. market.
The name of the holding company of American Re-Insurance Company, American Re Corporation, will change to Munich Re America Corporation.
“The name change is a logical step in the far-reaching integration of American Re into the Munich Re Group. Munich Re is underlining its clear commitment to the U.S. market and its subsidiary American Re – and in the future to ‘Munich Re America,'” said Nikolaus von Bomhard, Chairman of Munich Re.
“This measure is a powerful statement of support by Munich Re in its U.S. operations,” claimed John Phelan, chairman and CEO of American Re and Member of Munich Re’s Board. “Munich Re’s U.S. operations will benefit greatly from Munich Re’s global branding. Munich Re is the preeminent global reinsurance brand with exceptional strength, capacity, and technical expertise,” said Phelan.
American Re Corporation, a member of the Munich Re Group, is a provider of non-life reinsurance in the United States. Through its subsidiaries, it writes treaty and facultative reinsurance, insurance, and provides related services to insurance companies, other large businesses, government agencies, pools and other self-insurers.
The Munich Re Group, whose business also includes primary insurance and asset management, is a global reinsurer. It is headed by Munich Reinsurance Company of Munich, Germany, and includes reinsurance subsidiaries, branches, service companies and liaison offices in more than 60 locations worldwide, serving corporate clients from around 160 countries.
Source: American Re, Munich Re
Was this article valuable?
Here are more articles you may enjoy.