Munich Re Canada Individual Life Living Benefits

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About Our Business

Munich Re entered the Canadian reinsurance market in 1959 and today, our Life and Health reinsurance team serves clients across Canada and in the Caribbean from offices in Toronto and Montreal. We are the leading reinsurer in Canada and have a significant market position in all lines of Life and Health reinsurance.

In its simplest form, reinsurance is insurance for insurance companies. That's a simple way to describe a complex business – a business that plays a significant role in the economies of our and other industrialized nations. Reinsurance helps protect insurers against unforeseen or extraordinary losses by allowing them to diversify their risk.

For example, a catastrophic fire at an industrial enterprise could financially devastate its insurer. With reinsurance, no single insurer finds itself with a financial burden too large, beyond its ability to pay. Reinsurance can also help reduce a primary insurer's net liability on individual risks and maintain acceptable financial ratios. Just as a single large fire could cripple the industrial plant's insurer, a large number of relatively small losses could be equally devastating.

Insurance involves pricing a product whose actual cost will not be known until sometime in the future. Through reinsurance, insurers can reduce the impact of wide fluctuations in their loss experience, stabilizing the company's overall operating results. And finally, buying reinsurance allows insurers to grow increasing the insurer's capacity for new business.


Life insurers work in a dynamic environment: medical progress, demographic trends and changing life-styles constantly give rise to new risk landscapes.  Add the impact of social, economic and regulatory environments to this picture and you can see that reinsurance is quite a dynamic business. Now you may be wondering: do reinsurers buy coverage, too? Yes, we do. It's called retrocession. Just think of it as insurance for reinsurers.


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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.