Manny Rios Named President and CEO of American Modern Insurance Group
Princeton, New Jersey, 26 October 2011 – Munich Re today announced the appointment of Manny Rios as President and Chief Executive Officer of American Modern Insurance Group, Inc. (American Modern) effective 7 November 2011. Rios joins American Modern with over 26 years of experience in insurance, most recently serving as Senior Vice President and Chief Underwriter Officer at United Services Automobile Association (USAA). Previous to USAA, Rios held various leadership roles at Allstate Insurance and Homesite Group Incorporated.
“Manny brings a strong combination of specialty property and casualty insurance experience, industry knowledge, and business and financial acumen to this important role at American Modern. We are charging Manny with driving the strategic vision as well as profitable growth in the personal lines and financial lines divisions. He is an excellent leader with a proven track record, and we welcome him to the team,“ said Peter Röder, who is the member of Munich Re’s Board of Management responsible for business in North America.
Manny Rios takes over the responsibilities of managing American Modern’s daily operations from Anthony J. Kuczinski, Chairman of American Modern, who has served as interim President/CEO since early 2011. Head of Munich Re’s property and casualty operations in the U.S., Kuczinski is also President and CEO of Munich Reinsurance America, Inc., and Chairman of Hartford Steam Boiler.
“We are thrilled to have someone of Manny’s caliber and experience lead American Modern. The combination of Manny’s knowledge of the insurance market, experience in personal lines underwriting, and outstanding leadership abilities makes him ideally suited to lead American Modern’s specialty lines business to greater success,” says Kuczinski. “I am confident that Manny, along with the talented leadership team currently at American Modern, will continue to drive profitable growth in their select markets.”
American Modern Insurance Group, based in Amelia, Ohio, is one of the leading U.S. specialty insurers in niche segments, delivering specialized products and services for residential property, including mobile homes and specialty dwellings, and for the recreational market, including owners of boats, personal watercraft, classic cars, motorcycles and snowmobiles. In addition, the company provides collateral protection, mortgage fire and related products and services to protect financial institutions and their customers.
American Modern Insurance Group was acquired by Munich Re as part of its purchase of The Midland Company in 2008.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Reinsurance America, Inc. 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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