Munich Reinsurance America's Specialty Markets division has launched two new programs focused on writing transportation business through Managing General Agents and Program Administrators, as part of its Transportation Initiative.
"We are pleased to announce the addition of two new programs writing business in the transportation sector" said John Willemsen, Vice President of Specialty Markets, who heads the initiative. "The recent addition of a waste haulers program and taxicab program illustrates our commitment to this segment of the industry."
"In today's environment of market uncertainty, a carrier's financial stability is more important than ever, and Munich Re America offers solid financial strength and superior underwriting expertise. Although we recently entered the transportation sector, we are already seeing great interest from a number of MGAs in this niche market," said Craig Smiddy, President of the Specialty Markets division.
For more information, contact John Willemsen, Vice President, Specialty Markets, who is heading the Transportation Initiative, at 609- 243-5534 or email: jwillemsen@munichreamerica.com
Munich Re America Corporation, a member of the Munich Re Group, offers superior capacity to meet clients' risk-transfer needs. We have $4.1 billion in statutory surplus and $17.0 billion in high-quality assets to provide our clients with outstanding balance sheet strength, stability and the liquidity to pay claims promptly. Munich Reinsurance America offers a full range of property and casualty coverages through multiple distribution channels. Primary program insurance products are available through affiliated operations: American Alternative Insurance Corporation (an admitted insurer in all fifty states) and the Princeton Excess and Surplus Lines Insurance Company (authorized to write business in 50 states and the District of Columbia), and American Modern Insurance Group.
The Munich Re Group operates worldwide, turning risk into value. In the financial year 2007, it achieved a profit of €3,937m, the highest since the company was founded in 1880, on premium income of approximately €37bn. The Group operates in all lines of business, with around 43,000 employees at over 50 locations throughout the world and is characterised by particularly pronounced diversification, client focus and earnings stability. With premium income of around €21.5bn from reinsurance alone, it is one of the world's leading reinsurers.
More about Munich Re America products and services can be found at www.munichreamerica.com.