Insurance Business Munich Re shakes up Canadian executive team

Munich Re shakes up Canadian executive team Munich Re has announced changes to its North America executive teams, reasoning that the company is taking advantage of emerging new trends in the region.

“Now more than ever we are seeing dramatic changes in our industry,” said Munich Re North America (Life and Health) president and CEO Mary Forrest. “It is a very exciting time to be part of this, and Munich Re is committed to being a leading player in the market. Our culture of innovation will be fast forwarded with the changes we are making to our executive team in Canada.”

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Bernard Naumann has been appointed president and CEO of Munich Re Canada’s Life division. In this role, Naumann will help “develop and execute the Canadian reinsurance business strategy for Canada and the Caribbean,” a release said. He has over 20 years of experience in the industry, having previously served as senior vice-president of individual reinsurance in 2007 and then senior vice-president of reinsurance in 2016.

Richard Letarte was named president and CEO of Munich Re New Ventures, a division of North America (Life and Health). Letarte “will be leading innovation initiatives which focus on developing new products and services, and investments into new technologies.” He has nearly 30 years of experience in group insurance, individual life and living benefits businesses. Letarte was previously appointed as senior vice-president of Innovation for the Canadian life business in 2016.

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Meanwhile, Lloyd Milani has been assigned as chief risk officer of North America (life and health), where he will “continue to be responsible for the enterprise risk management of the life business in Canada and the United States, with the added responsibility of the North American health insurance and reinsurance business.”

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