Reinsurance News

Scot Parnell becomes Munich Re Life US new CFO

5th December 2022 - Author: Kassandra Jimenez-Sanchez

Munich Re Life US, the life division of reinsurance giant Munich Re, has announced the appointment of 30-plus-year finance veteran Scot Parnell as Chief Financial Officer (CFO).

Parnell will be responsible for overseeing the company’s Finance and Corporate Actuarial functions, which manages valuation, financial reporting and analysis, expense and capital management, and M&A activity.

He will also partner closely with the Life US executive leadership team to drive financial planning and advise on the strategic financial direction of the company to ensure sustainable, profitable growth.

The new CFO will be based in New York and report to Munich Re Life US CEO, Marc Giguère, who commented: “Scot’s demonstrated and strong financial acumen, collaborative approach and proven leadership combine to make him a tremendous fit for this vital role.

“I look forward to Scot and his team’s contributions as we continue to strengthen our reinsurance business throughout the US.”

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Prior to joining Munich Re Life US, Parnell served at DailyPay as CFO and played an integral role in leading the company’s efforts in the on-demand pay industry. He has also held financial leadership roles within TIAA’s retail and institutional divisions, as well both the Crump Group and Student Loan Corporation.

Commenting on his appointment, Parnell said: “Munich Re Life US is so highly regarded – they are the leader in the life reinsurance industry. We have a great team of professionals in place. I am honoured to join and eager to work together so we can reach each even greater heights.”

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