American Re-Insurance Company, Princeton, N.J., has announced that next month it will change its name to Munich Reinsurance America Inc.
Nikolaus von Bomhard, chairman of Munich Re, explained, “The name change is a logical step in the far-reaching integration of American Re into the Munich Re Group. Munich Re is underlining its clear commitment to the U.S. market and its subsidiary American Re–and in the future to Munich Re America.”
John Phelan, chairman and chief executive officer of American Re and a member of Munich Re's board, called the move “a powerful statement of support by Munich Re in its U.S. operations.”
He added, “Munich Re's U.S. operations will benefit greatly from Munich Re's global branding. Munich Re is the preeminent global reinsurance brand with exceptional strength, capacity and technical expertise.”
Munich Reinsurance America Inc., Munich Re's largest reinsurance subsidiary, will continue to operate as a separate corporate entity in the U.S. market, the company said.
The name of the holding company of American Re-Insurance Company, American Re Corporation, will also change to Munich Re America Corporation.
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