Munich Reinsurance America

Munich Reinsurance America (also called Munich Re America), formerly known as American Re-Insurance Corporation before September 2006,[1] is a major provider of property and casualty reinsurance in the United States. Munich Reinsurance America is a subsidiary of Munich Re. Founded in 1917, the company's headquarters is located in Princeton, New Jersey, with regional offices in San Francisco, Chicago and New York. Munich Reinsurance America, Inc. has earned an A+ financial strength rating from A.M. Best Company. The company offers solutions and services that provide clients protection from global issues such as climate change.[2]

History

In 1948, American Re-Insurance purchased the American Reserve Insurance Company.[3] American Reserve had itself integrated the American Phenix Corporation of New York in 1932 after the liquidation of American Phenix.[4]

Acquisition

In 1996 Munich Re acquired American Re for roughly $3.8 billion. Additional funds were needed to expand reserves for casualty and asbestos policies.[5]

Divisions

  • Reinsurance Division
  • Specialty Markets
  • Corporate Insurance Partners

Affiliates

  • Hartford Steam Boiler Inspection and Insurance Company (HSB)
  • American Modern Insurance Group

These divisions help provide insurance in multiple sectors.

References

  1. ↑ "American Re to Become Munich Re America Starting in Sept". Insurance Journal. 2006-08-03. Retrieved 2014-04-03.
  2. ↑ Sarah Veysey (2014-04-01). "Improved prevention measures kept 2013 flood losses in check: Munich Re". Business Insurance. Retrieved 2014-04-03.
  3. ↑ United States Investor. F.P.Bennett. 2017-03-30.
  4. ↑ "American Phenix to Liquidate". pqasb.pqarchiver.com. Retrieved 2017-03-30.
  5. ↑ Oliver Suess (2012-10-17). "N. America Has Biggest Rise in Weather Disasters". Bloomberg Businessweek. Retrieved 2014-04-03.
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