PRINCETON, N.J.--(BUSINESS WIRE)--Munich Re announced today that Juan Serrano has been appointed President & CEO of Munich Health North America, effective immediately. He succeeds Donna Peterson, who retires after almost 40 years of service in the insurance industry.
"Juan is a well-known and widely respected executive in the health industry," said Tom Van den Brulle, Chief Executive Reinsurance at Munich Health. "His deep knowledge of the mechanics and pain points of the industry paired with his demonstrated leadership will help us serve our clients in a time of fundamental change in the market. North America is a key region for Munich Health and we are investing in future growth."
Juan Serrano has over 25 years of experience in health insurance. He previously served as CEO of Prominence Health and Senior Vice President of Payer Strategy and Operations of Catholic Health Initiatives. Before joining CHI, Juan held roles of progressive responsibility within organizations such as WellCare Health Plans, UnitedHealth Group and Prudential.
"This is a great opportunity and I look forward to the challenge of growing the Munich Health business in the US," said Serrano.
Munich Health is one of three business segments of Munich Re. Here all international health care business in insurance and reinsurance operations, as well as related services are pooled under the Munich Health brand.
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 2014, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of over €48bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €27bn 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 the ERGO Insurance Group, 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 2014, ERGO posted premium income of €18bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €227bn 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.
Princeton, NJ, December 14th, 2015
Munich Reinsurance America, Inc.
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