American Re Announces the Sale of Becher + Carlson Risk Management, Inc.Business Editors PRINCETON, N.J.--(BUSINESS WIRE)--Oct. 20, 2003 American Re Corporation announced today that its subsidiary, Munich American Global Services, Inc., has entered into an agreement for the sale of its subsidiary, Becher + Carlson Risk Management, Inc., which is the holding company for the Becher + Carlson Companies Carlson Companies (sometimes referred to as Carlson) is a privately held international corporation in the marketing, service, travel, and hospitality industries. Headquartered in Minneapolis, Minnesota, in the United States, as of 2005 Carlson Companies owned 5,300 travel (B+C). The purchasers include B+C's management and employees. The terms of the sale, which is expected to close on or about November 10, 2003, were not disclosed. "We are pleased to announce the proposed acquisition. The acquisition will enable the Becher and Carlson family to advance its position as a leader in retail brokerage, risk management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and captive management services to large organizations and groups," said Greg Myers Gregory Richard Myers (born on April 14, 1966, in Riverside, California) is a former baseball catcher and designated hitter most recently for the Toronto Blue Jays of the American League of Major League Baseball . He played 18 seasons in the MLB, which began in 1987. , Becher and Carlson's President. Becher and Carlson will retain its current trade names, operating structures and management teams. Becher + Carlson Management Ltd. will continue to manage American Re's Bermuda-based rental captive facilities, Princeton Eagle Insurance Company Limited and Princeton Eagle West Insurance Company Limited, which are accessed by the clients of Munich-American RiskPartners, American Re's alternative market group. American Re Corporation, a member of the Munich Re Munich Re AG, in German Münchener Rück AG (ISIN: DE0008430026), is the world's second largest reinsurance company with over 5,000 customers in 160 countries and has its headquarters in Munich, Germany. Group, is one of the leading providers of reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Through its subsidiaries, it writes treaty and facultative reinsurance, insurance, and provides related services to insurance companies, other large businesses, government agencies, pools and other self-insurers. The Munich Re Group, whose business also includes primary insurance and asset management, has a preeminent position in the global reinsurance industry. It is headed by Munich Reinsurance Company of Munich, Germany, and includes reinsurance subsidiaries, branches, service companies and liaison offices in more than 60 locations worldwide, serving insurers in more than 150 countries. Headquartered in Princeton, New Jersey
Princeton, New Jersey is located in Mercer County, New Jersey, United States. Princeton University has been sited in the town since 1756. , Becher and Carlson has six offices located throughout the United States and Bermuda. Becher and Carlson's client focused organization is led by a team of professionals skilled in the disciplines most needed by its clients. Becher and Carlson specializes in providing property and casualty brokerage and insurance consulting services and captive management services. |
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