6 November 2012
Munich Health and International Reinsurance Managers enter into a cooperation agreement for Latin America
Munich Health, the health segment of Munich Re (Group), and International Reinsurance Managers, LLC (IRM), a Managing General Underwriter, today announced that they have entered into a cooperation agreement for the Latin American healthcare reinsurance market.
Miami. Munich Health sees large long-term reinsurance potential in the Latin American Healthcare markets. With the cooperation Munich Health and IRM offer global pricing expertise and customized services to the ceding companies especially addressing the challenges of its Latin America clients. IRM will take over the client management function and provide quality services to its clients in the areas of risk management, underwriting, claims management, training and product development support. This does not embrace Brazil as Munich Health is active via MR do Brazil and its local presence in Sao Paulo.
The cooperation is dedicated to support its clients generating sustainable growth in health insurance by providing comprehensive solutions as specialized risk carrier with global scope and specific local market know how based on a close client relationship. The reinsurance solutions offered to clients range from classic proportional and non-proportional reinsurance and underwriting services to product development, managed care and administration services. In addition, we are able to advise insurance companies on the challenges imposed by capital- and solvency management and support them in the financing of new business opportunities.
June Chen, President and CEO of IRM, commented “Munich Health had been seeking to increase its business in the Latin American Health reinsurance market while enhancing its assistance to its current health insurance clients, and IRM’s expertise and knowledge, as well as its proximity to its clients, made it an attractive partner for Munich Health. This Cooperation demonstrates our commitment to the Latin American health reinsurance market and provides our clients with the solution-based expertise of one of the leading reinsurers of the world.”
Birgit Rummel, responsible for Southern Europe/Latin America at Munich Health said “By combining IRMs expertise and proximity to Latin American Health insurance clients with Munich Health’s expertise and global experience in health risk and services we are able to customize our offering in accordance with our client needs with the ambition to exceed their expectations.”
This corporate news item 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.
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