Munich Reinsurance America asset release request

Summary#

Munich Reinsurance America, Inc. (doing business in Canada as a branch) has told the federal regulator it plans to ask for permission to release the assets it currently keeps in Canada. The company will apply to the Superintendent of Financial Institutions (Canada) on or after June 15, 2026, and policyholders or creditors who oppose that release can file an objection by June 15, 2026.

What it does#

• The notice says Munich Reinsurance America, Inc. will apply under section 651 of the Insurance Companies Act (Canada) for an order allowing it to release assets it holds in Canada.
• It invites any policyholder or creditor with a claim related to the branch’s reinsurance business in Canada to file an opposition.
• Oppositions must be sent to the Office of the Superintendent of Financial Institutions (Canada), Legislative Approvals and New Entry Division, at 255 Albert Street, Ottawa, Ontario K1A 0H2, or by email to approvals-approbations@osfi-bsif.gc.ca, on or before June 15, 2026.

Who's affected#

• Policyholders of reinsurance contracts placed with the MRAM Branch (the branch of Munich Reinsurance America, Inc. operating in Canada).
• Creditors with claims tied to that branch’s reinsurance business in Canada.
• It is unclear from the notice whether there are other affected parties; the notice does not list specific policies, clients, or asset amounts.

Why it matters#

• If the regulator allows the release, assets now held in Canada could be removed or made unavailable locally. That can affect how easily policyholders and creditors can access money if they have claims.
• This is an announcement of an intended application, not a final decision. People with potential claims have until June 15, 2026 to object.