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5 June 2013 | Personnel
Princeton, New Jersey, 5 June 2013
– Carsten Prussog, currently Head
of Reinsurance Development at Munich Re, will become President of
the Specialty Markets Division of Munich
Re’s U.S. property and casualty reinsurance
subsidiary, Munich Re America. Prussog will begin in his new role
this fall, and replaces Craig Smiddy, who recently announced his
decision to leave the company.
The Specialty Markets Division is the marketing and underwriting
division of Munich Re America that provides custom risk transfer
solutions and niche products for self-insureds, alternative market
entities, managing general agents (MGAs), managing general
underwriters (MGUs) and program administrators (PAs).
Prussog will report to Munich Re America President and CEO Tony
Kuczinski, who, with Munich Re America Chairman Peter Roeder,
expressed their firm belief that Prussog will
“guide the Specialty Markets organization
to realizing its full potential in the U.S. specialty insurance
market.”
“This is an important and growing area of
the U.S. market,” said Kuczinski,
“and I am delighted to have someone of
Carsten’s caliber who can take this
business to the next level for the Munich Re
organization.”
“It shows Munich
Re’s firm commitment to further develop
this business segment,” added Roeder.
As Head of Reinsurance Development at Munich Re, Prussog is
currently responsible for the overarching strategy and structural
target picture for global reinsurance business, including the
primary insurance business conducted out of its reinsurance
operations. Prior to joining Munich Re, Prussog was a Partner at
Bain & Company for eight years, where he
worked with a number of reinsurance and insurance clients. He has a
Masters of Mechanical Engineering/Business Administration and a
Ph.D from Technische Universität
Dresden.
Disclaimer
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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