American Re Sells Risk Management Unit
By Michael Ha
NU Online News Service, Nov. 18, 2:10 p.m. EST?American Re Corporation has completed the sale of its risk management unit, Becher + Carlson Risk Management Inc., as part of its ongoing effort to focus on its core business, a company spokesperson said.
"We are really focusing on our core businesses of reinsurance and insurance, and Becher + Carlson wasn't part of that strategy," Terese Rosenthal, American Re spokesperson, told National Underwriter.
Details of the transaction were not disclosed, but buyers include Becher + Carlson's own management and employees, as well as other investors, Ms. Rosenthal said. Becher + Carlson has some 30 employees and six offices located throughout the United States and Bermuda. It specializes in providing property-casualty brokerage and insurance consulting services and captive management services.
Ms. Rosenthal added that even after the sale, American Re and Becher + Carlson will maintain their business relationship. "Becher + Carlson will continue managing American Re's Bermuda-based rental captive facilities," she said.
American Re, a member of the Munich Re Group, provides reinsurance in the United States. Through its subsidiaries, it also writes treaty and facultative reinsurance, insurance, and provides related services to insurance companies, other large businesses, government agencies, pools and other self-insurers.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
