“We believe there is significant, untapped demand for longevity reinsurance in the US and Canada markets and we are well positioned to meet it,” said Mary Forrest, President and CEO of Munich Re North America Life. “We are known for applying our scale, capacity, and insight to solve complex client challenges in ways that enable them to grow their businesses. We look forward to partnering with clients to evaluate the impact of longevity reinsurance and to designing a customized approach that supports their specific goals.”

Munich Re North America Life includes Munich Re Life US and Munich Re, Canada (Life), which have served the US, Canada, Bermuda and Caribbean markets for 65 years. With the pension risk transfer market growing alongside elevated interest rates, and with insurers seeking to balance mortality and longevity risks, this capability can complement a variety of risk management strategies. Munich Re’s team of experts in North America can support successful longevity transactions through specialized actuarial, risk and legal knowledge as well as unparalleled data-based insights on mortality assumptions.

“We are now among the few reinsurers offering longevity reinsurance to the North American market,” added Forrest. “In addition to our decades of expertise here in mortality risk assessment, we bring a global perspective and practical knowledge via Munich Re Group’s significant experience executing longevity transactions in Europe.”

For further information, visit our web pages for your respective region:

• Munich Re Life US
• Munich Re, Canada (Life)

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 over 140 years 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 business segments, as well as the asset management company 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 2023 financial year, Munich Re generated insurance revenue of €57.9bn and a net result of €4.6bn. The Munich Re Group employed about 43,000 people worldwide as at 31 December 2023.

Disclaimer

This 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 make them conform to future events or developments.