Transamerica Reinsurance Announces Top Management Appointments to Its European Operation.CHARLOTTE, N.C. -- Transamerica 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. , an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of Transamerica Occidental Life Insurance Company (TOLIC TOLIC Transamerica Occidental Life Insurance Company ) and part of the AEGON Group since 1999, announces the upcoming appointments of Mr. Christian Mounis to President, Transamerica Reinsurance Europe, and Mr. Ren[c] Lemaire to Senior Director, Northern Europe. From the TOLIC branch office in Paris, France, Mr. Mounis will lead the strategic development of Transamerica Reinsurance's European expansion, and will be responsible for all organizational and management activities for Europe. Mr. Lemaire will direct the development of new business opportunities and client relationship management, and will also work with industry associations and regulators on reinsurance related issues. Transamerica Reinsurance Europe plans to market traditional reinsurance solutions plus a range of high-value risk management, financing, product development and distribution solutions that can bring more value to primary companies as they adjust to changing market and regulatory conditions. "Our decision to expand to Europe reflects our view that changing market conditions will create new opportunities for life insurance organizations and reinsurers, and Transamerica Reinsurance is well positioned to help make this happen," said Paul Rutledge, president of Transamerica Reinsurance. "The addition of Christian and Ren[c] to our team in Paris is consistent with our growth strategy in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Asia Pacific of hiring experienced, high caliber professionals who have a full understanding of local needs and solid market relationships," Mr. Rutledge said, adding, "A strong team enables us to deliver high value solutions, and represents a large step in solidifying our long term commitment to European expansion." Mr. Mounis will bring almost 30 years of international reinsurance expertise to the company's European operations, having served in senior management posts with France's largest reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. . His positions have included president of the Asia Pacific region, executive vice president of worldwide life reinsurance operations, and membership in the group's executive committee. Mr. Lemaire will also join Transamerica Reinsurance Europe following a long career at France's largest reinsurer. With nearly 30 years of experience in reinsurance marketing and underwriting, Mr. Lemaire will position the reinsurer to quickly understand ceding cede tr.v. ced·ed, ced·ing, cedes 1. To surrender possession of, especially by treaty. See Synonyms at relinquish. 2. company needs and deliver effective solutions. In addition to working with high caliber professionals, clients of Transamerica Reinsurance Europe benefit from the company's strong and stable financial position. Its European business will be underwritten by TOLIC, which earns high ratings from the leading ratings agencies, including Standard & Poor's (AA), Moody's (Aa3), Fitch (AA+) and A.M. Best (A+). At year end 2005, TOLIC reports assets of a[logical not]23.7 billion, liabilities of a[logical not]21.7 billion, and shareholder equity of a[logical not]2.0 billion. About Transamerica Reinsurance Transamerica Reinsurance, an operating unit of Transamerica Occidental Life Insurance Company (TOLIC), is one of the largest suppliers of automatic and facultative life reinsurance capacity. TOLIC ranks among the top ten life reinsurance companies in the world based on gross premiums written When a non-life insurance company closes a contract to provide insurance against loss, the revenues (premiums) expected to be received over the life of the contract are called gross premiums written. , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Standard & Poor's 2005 survey of global reinsurers. In the United States, TOLIC ranks among the top five largest life reinsurance companies based on new business and inforce volume (policy face amount), according to the 2006 Society of Actuaries Mission Statement The Society of Actuaries is a professional organization for actuaries based in North America. Its headquarters are located in Schaumburg, Illinois. (SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records. (2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability. ) study of business written in 2005. This study is conducted for the SOA by Munich Re. Transamerica Reinsurance serves more than 500 client companies in North America, Asia Pacific and Latin America. Its main marketing office is located in Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation). Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. , USA. In addition to the French office, which supports its European business, Transamerica Reinsurance maintains an Asia Pacific regional management office in Hong Kong and a Latin America regional management office located near Miami, Florida, USA. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion