ATLANTA--(BUSINESS WIRE)--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 partner.
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 business.
“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 approaches 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.