Munich American Reassurance Company, a wholly owned subsidiary of Germany’s Munich Re, has completed the previously announced purchase of CNA Financial Corporation’s life insurance business, CNA Life Re and Agora Re.com.
The acquisition doubles MARC’s business in the U.S., and reaffirms the company’s commitment to the U.S. Life reinsurance market. It plans to integrate CNA Re’s operations into its own.
Jeffrey S. Katz, CNA Re’s former President will become a Sr. V.P.”in charge of MARC’s newly established Chicago office.” He will also head AgoraRe, “an e-commerce marketplace for facultative life reinsurance and other transactions between direct life insurance companies and their reinsurers.”
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
