|[December 07, 2017]
Munich Re Appoints New President and CEO for U.S. Life and Health Effective January 1, 2018
Michael DeKoning, President and CEO of Munich Re, US (Life) has
decided not to renew his contract, and will leave Munich Re in January
2018. In the ten years that he has led Munich Re, US (Life), his
contributions have been many and he leaves the company in a much
stronger position today. Under his leadership, the business has
undergone significant business transformation and today is very well
positioned in the US market as a well-respected reinsurer and business
Effective January 1, 2018, Marc-André Giguère will be
appointed President and CEO of Munich Re, US (Life and Health).
Giguère will lead the US Life and Health business, developing and
executing business strategy and transformation. He is an industry
expert, having spent more than twenty years working in the US and Canada
in senior leadership roles at Ernst & Young and Tillinghast prior to
joining Munich Re. Giguère brings broad and deep knowledge of the North
American life insurance industry gained through numerous strategic
assignments and extensive client engagements.
Giguère joined Munich Re, Canada (Life) in November 2015 as Senior Vice
President, North America Inforce Management. In July 2017, he assumed
the role of Executive Vice President of Reinsurance for Munich Re, US
(Life) and President and CEO of Munich Re Health for the US. In this
most recent role, he has led all areas of our Individual and Group
Reinsurance teams, as well as a strategic review for our US Health
"The pace of change in our industry is incredible. It is a very exciting
time to be part of this, and the focus we have on innovation, technology
transformation and data analytics will continue to position us as a
leader in the market. With change comes new aproaches and new ideas and
the appointment of Marc-André Giguère as the leader of our US Life and
Health business will bring new opportunities for business growth in this
market," said Mary Forrest, President and CEO of Munich Re, North
America (Life and Health).
"Marc-André Giguère is a highly respected member of the US Life and
Health leadership team. Over the past two years, we have seen tremendous
results through Giguère's drive, creativity and business-focus. We are
confident that his leadership will continue our development in the US
and bring value to our clients," said Dr. Thomas Blunck, Member of the
Board of Management for Life and Health, Munich Re.
Giguère holds a Bachelor of Science from Laval University, and is a
Fellow of the Society of Actuaries, a Fellow of the Canadian Institute
of Actuaries and a member of the American Academy of Actuaries. He will
split his time between Munich Re's Atlanta and New York City offices.
Munich American Reassurance Company-Munich Re, U.S. (Life),
founded in 1959, is one of the largest reinsurers in the U.S. offering
life and disability reinsurance to insurance companies throughout the
United States. The company also writes group, credit and other
reinsurance products. Headquartered in Atlanta, with offices in Chicago
and New York, the company is licensed, accredited or authorized in all
fifty states; Washington, D.C.; Guam; and Puerto Rico.
Munich Re stands for exceptional solution-based expertise,
consistent risk management, financial stability and client proximity.
This is how Munich Re creates value for clients, shareholders and staff.
In the financial year 2016, the Group - which combines primary insurance
and reinsurance under one roof - achieved a profit of €2.6bn. It
operates in all lines of insurance, with over 43,000 employees
throughout the world. With premium income of around €28bn from
reinsurance alone, it is one of the world's leading reinsurers.
Especially when clients require solutions for complex risks, Munich Re
is a much sought-after risk carrier. Its primary insurance operations
are concentrated mainly in ERGO, one of the leading insurance groups in
Germany and Europe. ERGO is represented in over 30 countries worldwide
and offers a comprehensive range of insurances, provision products and
services. In 2016, ERGO posted premium income of €16.0bn. Munich Re's
global investments (excluding insurance-related investments) amounting
to €219bn are managed by MEAG, which also makes its competence available
to private and institutional investors outside the Group.
This press release contains forward-looking statements that are based on
current assumptions and forecasts of the management of Munich Re. Known
and unknown risks, uncertainties and other factors could lead to
material differences between the forward-looking statements given here
and the actual development, in particular the results, financial
situation and performance of our Company. The Company assumes no
liability to update these forward-looking statements or to conform them
to future events or developments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171207005863/en/
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