TORONTO--(BUSINESS WIRE)--Munich Re, a global leader in reinsurance, today announced that Simon Curtis will be joining as Chief Financial Officer for the North American Life business. Mr. Curtis’ appointment is effective September 3rd, 2013.
“We welcome the expertise and deep industry knowledge that he will bring to our organization and the resulting benefit this will create for our clients.”
“Mr. Curtis is a well-known and respected leader within the actuarial community and greater financial services sector,” said Mary Forrest, Head of North American Life for Munich Re. “We welcome the expertise and deep industry knowledge that he will bring to our organization and the resulting benefit this will create for our clients.”
Mr. Curtis joins with more than 30 years of experience from a variety of roles at Manulife and most recently Deloitte, where he was a Partner in their Assurance & Advisory practice. In his new role as CFO, Mr. Curtis will be responsible for providing oversight, best practices and harmonization of financial practices for North America, as well as all financial aspects of Munich Re Canada (Life).
Mr. Curtis’s appointment comes with the announcement that Doug Tozer will retire in the spring of 2014 after more than 20 years as CFO and Appointed Actuary in Canada.
“Munich Re is known for its strong technical talent and knowledge across all lines of life and health insurance,” said Mr. Tozer. “The addition of Simon to the role of North American CFO underscores our commitment to providing innovative solutions and the best technical expertise in the Life Reinsurance industry.” Mr. Tozer will remain a key member of the Canadian Executive team through to his retirement.
In Canada, Munich Re (Life Branch) is a market leader in life and health reinsurance with premiums volumes of CDN $10 billion, and assets of $6 billion. The branch operates from offices in Toronto and Montreal.
In the US, Munich Re operates as Munich American Reassurance Company, based out of Atlanta, GA, with premium volumes of USD $2 billion and assets of $8 billion.
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About Munich Re
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 2012, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of around €52bn. It operates in all lines of insurance, with around 45,000 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 the ERGO Insurance Group, one of the major 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 2012, ERGO posted premium income of €19bn. 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 €214bn 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.