Munich Re America seeks Canadian risk transfer

Summary#

Munich Reinsurance America, Inc. says it will apply for regulatory approval to have its Canadian branch reinsured, on an assumption basis, by Munich Reinsurance Company of Canada. The notice was published on November 1, 2025, and a proposed agreement will be available for inspection for 30 days after that date.

What it does#

• The branch of Munich Reinsurance America, Inc. in Canada (the “MRAM Branch”) will ask the Superintendent of Financial Institutions (Canada) for permission to transfer its risks so they are taken on by Munich Reinsurance Company of Canada. The application will be made on or after December 3, 2025.
• The proposed “assumption reinsurance agreement” covers all risks undertaken by the MRAM Branch, according to the notice under Insurance Companies Act subsection 587.1(4).
• Treatyholders can inspect the proposed agreement at the MRAM Branch’s Chief Agency at 390 Bay Street, Toronto, Ontario M5H 2Y2 during regular business hours for 30 days after publication.
• A copy will also be provided on written request or by emailing p0060009947@mroc.com. The filing was made through solicitors Stikeman Elliott LLP.

Who's affected#

• Treatyholders of the MRAM Branch — the companies or parties that have reinsurance treaties with the branch — are the direct audience named in the notice.
• It is unclear from the notice whether individual insurance policyholders (the public) will see any direct, immediate changes.
• Regulators (the Superintendent of Financial Institutions (Canada)) will review the application before any transfer can proceed.

Why it matters#

• If approved, the legal responsibility for the MRAM Branch’s reinsured risks would move to Munich Reinsurance Company of Canada, which can affect which company handles claims and reserves for those risks.
• Treatyholders have a right to see the proposed agreement and ask for a copy, so they can assess how the change would affect their contracts.
• The notice starts the formal, regulated process; the regulator’s approval is required before the transfer has any legal effect.