Global reinsurance firm Munich Re’s Japan operations officially become a composite branch of July 1st 2017, and the reinsurer is expanding its offerings from the branch to include non-life products, as well as life, while Brian Jinzenji has been named CEO.
Jinzenji officially becomes Chief Executive Officer and Representative of the Japan composite branch on July 1st as well. He has been with Munich Re since April, as CEO of Japan Services, and previously worked as President and CEO for AXA Assistance Japan.
Jinzenji told Reinsurance News about his commitment to the Japanese market and the new role as Munich Re CEO Japan; “Munich Re has a rich history of serving Japanese clients for over 100 years. Munich Re has run a successful life reinsurance business locally out of the Japan Branch since 2010 and the branch’s inauguration of its non-life reinsurance business as of 1 July 2017 in addition to life is an important step forward that represents Munich Re’s even greater commitment to this key market.
“As the first Japanese CEO for Munich Re in Japan, I look forward to forming stronger ties with Japanese clients and starting a new chapter that will shape the next 100 years for the company.”
Of course Munich Re has been underwriting non-life risks from Japan, but the establishment of a composite branch office in the country to allow direct origination and writing of non-life risk will help the company grow its status in that market.
Munich Re’s goal with the expansion of the Tokyo, Japan branch office to include non-life is to play a greater role in the property-casualty re/insurance business in the country.
Previously, Munich Re only had a service company in Japan which allowed it to market products and educate clients, but Japanese non-life business origination and underwriting had been undertaken from its Munich head office.
