Munich Reinsurance America (also called Munich Re America), formerly known as American Re-Insurance Corporation before September 2006, is a major provider of property and casualty
reinsurance in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
. Munich Reinsurance America is a subsidiary of
Munich Re
Munich Re Group or Munich Reinsurance Company (german: Münchener Rück; Münchener Rückversicherungs-Gesellschaft) is a German multinational insurance company based in Munich, Germany. It is one of the world's leading reinsurers. ERGO, a Muni ...
. Founded in 1917, the company's headquarters is located in Princeton, New Jersey, with regional offices in San Francisco, Chicago and New York. The company offers services that provide clients protection from global disasters such as climate change.
History
In 1948, American Re-Insurance purchased the American Reserve Insurance Company. American Reserve had itself integrated the
American Phenix Corporation of New York in 1932 after the liquidation of American Phenix.
Acquisition
In 1996 Munich Re acquired American Re for roughly $3.8 billion. Additional funds were needed to expand reserves for casualty and asbestos policies.
Divisions
*Reinsurance Division
*Munich Re Specialty Insurance (MRSI) - Successor of Specialty Markets division
*Corporate Insurance Partners
Affiliates
*Hartford Steam Boiler Inspection and Insurance Company (HSB)
*American Modern Insurance Group
These divisions provide insurance in multiple sectors.
References
{{reflist
Insurance companies of the United States
Reinsurance companies
Companies based in Princeton, New Jersey