Munich Reinsurance Asset Release Request

Summary#

Munich Reinsurance America, Inc. says it will apply for permission to remove the assets it keeps in Canada under the Insurance Companies Act. The company will ask the Office of the Superintendent of Financial Institutions (Canada) for that order on or after June 15, 2026; objections must be filed by June 15, 2026. The notice was published May 2, 2026.

What it does#

• Tells the public that Munich Reinsurance America, Inc. (operating in Canada as a branch) intends to ask the Office of the Superintendent of Financial Institutions (Canada) for an order allowing the branch to release the assets it holds in Canada.
• Gives a deadline for anyone who opposes that request to file an objection: on or before June 15, 2026.
• Explains how to send an opposition: by mail to Legislative Approvals and New Entry Division, 255 Albert Street, Ottawa, Ontario K1A 0H2, or by email to approvals-approbations@osfi-bsif.gc.ca.

Who's affected#

• Policyholders of the branch’s reinsurance business in Canada.
• Creditors of the branch’s reinsurance business in Canada.
• It is unclear from the notice whether other parties (for example, cedants, brokers, or claimants) are directly affected; they may be if they rely on assets kept in Canada.

Why it matters#

• If the branch’s Canadian assets are released, there may be fewer funds held in Canada to cover reinsurance claims or related liabilities.
• Policyholders and creditors have a short window (until June 15, 2026) to object if they think the release would harm their interests.
• This is an announcement of an intended application, not a decision — the request still needs to be considered by the federal regulator.