Munich Reinsurance Asset Release Application

Summary#

Munich Reinsurance America, Inc. (operating in Canada as the MRAM Branch) says it will apply to the Superintendent of Financial Institutions (Canada) for permission to release assets it holds in Canada under section 651 of the Insurance Companies Act. The application will be made on or after June 15, 2026, and anyone who opposes the release can file an objection by June 15, 2026.

What it does#

• Asks the regulator for an order allowing the MRAM Branch to remove or distribute assets that it currently maintains in Canada under section 651 of the Insurance Companies Act.
• Sets a public opportunity to oppose that request. Oppositions must be filed with the Office of the Superintendent of Financial Institutions (Canada) by June 15, 2026.
• Contact options given in the notice are:
  • Mail: Legislative Approvals and New Entry Division, 255 Albert Street, Ottawa, Ontario K1A 0H2
  • Email: approvals-approbations@osfi-bsif.gc.ca

Who's affected#

• Policyholders and creditors of the MRAM Branch (the branch of Munich Reinsurance America, Inc. that does reinsurance business in Canada).
• It is unclear from the notice whether any other groups (for example, cedants, brokers, or provincial regulators) are directly targeted by this specific filing.

Why it matters#

• Releasing assets held in Canada could affect how claims or creditors are paid from those funds.
• Policyholders or creditors who believe their interests could be harmed have a time-limited chance (until June 15, 2026) to object.
• This is a regulatory step; it does not say the request has been approved. The superintendent will decide whether to allow the release.