Daniel McGinnis Joins American Re Broker Market's Finite Risk Department.Business Editors PRINCETON, N.J.--(BUSINESS WIRE)--June 15, 2004 American Re Broker Market is pleased to announce that Daniel McGinnis has joined the company as Vice President and Finite Risk Underwriter. He will be involved in underwriting the full range of finite risk business that the company offers, including loss portfolio transfers, adverse development covers, prospective aggregate stop loss covers and structured quota shares. Prior to joining American Re, Mr. McGinnis worked in the Risk Finance Division of AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group , and before that in the Advanced Risk Solutions practice of Marsh, Inc. "American Re is committed to meeting the finite risk needs of its broker market clients, and will continue to add the resources necessary to support this growing business. We are sure Dan will be a valuable resource for both American Re and our clients," said Russ Wenitsky, SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul and Chief Underwriting Officer - Finite Risk. American Re Broker Market is a division of American Re-Insurance Company that provides U.S. ceding cede tr.v. ced·ed, ced·ing, cedes 1. To surrender possession of, especially by treaty. See Synonyms at relinquish. 2. companies with access to American Re capacity through 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. intermediaries. American Re Broker Market underwrites a broad base of traditional treaty reinsurance products for the Company, including nearly all lines of property and casualty reinsurance, as well as finite risk. Business is written on an excess of loss, pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. , and aggregate basis. American Re-Insurance Company, 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 writers of reinsurance 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. . American Re and its affiliates provide treaty and facultative reinsurance, insurance, and related services to insurance companies, other large businesses, government agencies, pools and other self-insurers, in the United States and abroad. 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. |
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