Munich Reinsurance Asset Release in Canada

Summary#

Munich Reinsurance America, Inc. says it will apply to the Office of the Superintendent of Financial Institutions (Canada) for permission to release assets it holds in Canada under section 651 of the Insurance Companies Act. Anyone who is a policyholder or a creditor of its Canadian reinsurance business can oppose that application by June 15, 2026.

What it does#

• Announces that Munich Reinsurance America, Inc. (operating in Canada as a branch) intends to apply on or after June 15, 2026 for an order allowing it to release assets kept in Canada under section 651 of the Insurance Companies Act.
• Invites any policyholder or creditor of the branch’s Canadian reinsurance business to file an opposition by mail to the Office of the Superintendent of Financial Institutions (Canada) (Legislative Approvals and New Entry Division, 255 Albert Street, Ottawa, Ontario K1A 0H2) or by email at approvals-approbations@osfi-bsif.gc.ca on or before June 15, 2026.

Who's affected#

• Policyholders of the branch of Munich Reinsurance America, Inc. that does reinsurance business in Canada.
• Creditors who have claims against that Canadian reinsurance branch.
• The Office of the Superintendent of Financial Institutions (Canada), because it will decide whether to approve the application.

If it’s unclear whether you are a policyholder or creditor of this specific branch, the notice does not provide further details.

Why it matters#

• If the superintendent approves the application, the company would be allowed to release assets that are currently held in Canada. That could change how and where those assets can be used to pay claims or satisfy creditors.
• The notice gives people with potential claims a short window to object — the deadline is June 15, 2026.
• This is a public warning and a chance to oppose the move; it is not itself an approval or final decision.