Munich Re North America Life, a part of the Munich Re Group, has unveiled a long life reinsurance answer focused at its clients within the US and Canada.
The brand new providing is designed to assist these shoppers handle biometric dangers whereas accumulating belongings.
It permits shoppers to switch the uncertainty of future pension or annuity funds right into a predictable money stream, with mortality assumptions and charges established firstly.
Munich Re stated the introduction of this answer comes at a time when insurers and asset reinsurers are dealing with elevated reserve and capital necessities for longevity dangers, particularly with regulatory adjustments on the horizon within the US.
Serving the North American marketplace for greater than 65 years, Munich Re North America Life, which incorporates Munich Re Life US and Munich Re Canada (Life), is responding to the rising pension threat switch market and the balancing act insurers face with mortality and longevity dangers.
The Munich Re crew in North America is supplied with specialised actuarial, threat and authorized experience, in addition to data-driven insights on mortality assumptions, the reinsurer famous.
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Munich Re North America Life president and CEO Mary Forrest stated: “We consider there may be vital, untapped demand for longevity reinsurance within the US and Canada markets and we’re nicely positioned to satisfy it.
“We’re recognized for making use of our scale, capability and perception to resolve complicated consumer challenges in ways in which allow them to develop their companies.
“We stay up for partnering with shoppers to guage the impression of longevity reinsurance and to designing a customized method that helps their particular objectives.”
Final week noticed HSB, one other Munich Re unit, increase its cyber insurance coverage choices with HSB House Cyber Safety.
This suite of coverages addresses rising dangers reminiscent of linked autos, cybercrime, digital wallets and extra.
Moreover, in July, Munich Re’s Threat Administration Companions and CGI collaborated to bolster insurers’ capability to handle climate-related dangers.
