Plans to unify the recently added specialty insurers
Reinsurance firm, Munich Re plans to unify the units in its reinsurance segment under the Munich Re brand – reported Bloomberg.
Reportedly, the company said: “Munich Re will position itself as a comprehensive provider of all types of reinsurance and capital market solutions under the worldwide brand of Munich Re.”
At the end of 2008, the company acquired specialty insurers like Midland and Hartford Steam Boiler, from American International Group. These firms would also be operated under the Munich Re brand with the addition of “Risk Solutions” in the medium term.
Torsten Jeworrek, management board member responsible for reinsurance of Munich Re, said: “Traditional reinsurance is our core business and will remain so. But we should aim to deploy our know-how even more precisely in the future. We want to be the first point of call for our clients when it comes to solving complex underwriting issues.”
The company assured HSB’s customers and clients that following the takeover, it would not change the name over the next two years and would not touch the brand further, quoted Bloomberg.