Executive Leadership Transition at Munich Re North America Life: Mary Forrest Retires as President and CEO from Munich Re, Succeeded by Marc-Andre Giguère and Bernard Naumann

NEW YORK & TORONTO--(BUSINESS WIRE)--Mary Forrest, President and CEO of Munich Re North America Life, will retire from Munich Re in Q1 2026. She will be succeeded by Marc-Andre Giguère, who will continue to oversee the United States, and Bernard Naumann, who will continue to lead Canada and the Caribbean. This transition will ensure stability and consistency for clients and business partners of Munich Re, while building on its leading market position in the region.

"We are deeply appreciative of Mary’s dedication and contributions to our success over the years. Under her leadership, the life reinsurance business in the United States, Canada, and the Caribbean has experienced unprecedented growth and success. She has been instrumental in driving innovation, expansion, and excellence in these markets over decades, which will continue to inspire and motivate us as we move forward," said Mari-Lizette Malherbe, Member of the Board of Management responsible for Life and Health.

The North America Life business has reached remarkable success during Mary's tenure, generating over €6bn in insurance revenue and accounting for approximately 55% of the Group’s Life and Health reinsurance business written in 2024. Her achievements include significant accomplishments and initiatives, such as becoming the largest mortality risk taker in Canada, and establishing highly successful financial reinsurance teams dedicated to delivering innovative solutions to clients. Mary's vision for the digitalization of North American data and the acquisition of access to extensive third-party datasets has enabled a deeper understanding of Munich Re's portfolio risk. This has led to the development of advanced analytics and AI-based tools, such as alitheia, a rapid risk assessment platform that helps carriers automate with limited mortality cost.

As Mary concludes her tenure, Munich Re is well-positioned for the future, with Marc-Andre Giguère and Bernard Naumann leading the North America region. "We have every confidence in Marc's and Bernard's leadership, expertise, and teams to further enhance Munich Re's market position in North America," added Malherbe.

Munich Re Life US

Munich Re Life US, a subsidiary of Munich Re Group, is a leading US reinsurer with a significant market presence and extensive technical depth in all areas of life and disability reinsurance. Beyond vast reinsurance capacity and unrivaled risk expertise, the company is recognized as an innovator in digital transformation and aims to guide carriers through the changing industry landscape with dynamic solutions insightfully designed to grow and support their business. Munich Re Life US also offers tailored financial reinsurance solutions to help life and disability insurance carriers manage organic growth and capital efficiency as well as M&A support to help achieve transaction success.

Munich Re, Canada (Life)

Munich Re, Canada (Life), a full-service branch of Munich Re Group, is a leading reinsurer in Canada with a significant market presence in all lines of life and health reinsurance. Munich Re is committed to servicing the Canadian market from our offices in Toronto and in Montreal as well as our clients in the Caribbean and surrounding regions. Leveraging a rich legacy spanning decades and a track record of profound risk expertise, we are focused on driving digital transformation and innovation throughout the insurance value chain – all with the goal of bringing unique value to our insurance partners and transforming the customer experience.

Munich Re Group

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO fields of business, and the asset manager MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Munich Re leverages its strengths to promote its clients’ business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks and artificial intelligence. In the 2024 financial year, Munich Re generated insurance revenue of €60.8bn and a net result of €5.7bn. The Munich Re Group employed about 44,000 people worldwide as at 31 December 2024.