Business Model
Great Lakes is a specialist provider of insurance services for the group Munich Re. By sharing in the knowledge network of the Group and by means of our worldwide insurance licences, we develop and support innovative opportunities in partnership with Munich Re.
Great Lakes uses two distinct models for accessing insurance business: The first is delegated acceptances via Agency or Coinsurance Agreements and the second is individual acceptances of Large Industrial Risks.
By providing the framework for bespoke primary insurance solutions and keeping reinsurance agreements with many business units of Munich Re, we connect insurance and reinsurance to make profitable business opportunities in attractive primary insurance niche segments accessible to Munich Re.
Where we are currently licensed to write business
| Australia: | Permanent Establishment |
|---|---|
| European Union: | Capability to cover most classes throughout the European Union via the Freedom Of Services Directive with the exception of Motor Liability and Legal Expenses |
| Germany | Authorised to transact all classes of Insurance and Reinsurance (except Life) |
| Ireland | Permanent Establishment |
| Italy: | Permanent Establishment |
| New Zealand: | Permanent Establishment |
| Switzerland: | Permanent Establishment |
| United Kingdom: | Authorised to transact all classes of Insurance and Reinsurance (except Life) |
| United States of America: | Surplus Lines licensed in 49 US states |
| Worldwide: | Able to underwrite in many other worldwide locations on a non-admitted basis |
