Munich Reinsurance Asset Release Notice

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 the Insurance Companies Act. The company filed the notice on May 2, 2026, and it was published in the Canada Gazette on May 9, 2026; anyone who wants to oppose must do so by June 15, 2026.

What it does#

• The notice says Munich Reinsurance America, Inc. (the Canadian branch) intends to apply for an order authorizing the release of assets it keeps in Canada under the Insurance Companies Act.
• The application will be made to the Office of the Superintendent of Financial Institutions (Canada) on or after June 15, 2026.
• The notice invites any policyholder or creditor of the branch’s reinsurance business in Canada to file an opposition by June 15, 2026. Oppositions can be sent to the OSFI Legislative Approvals and New Entry Division by mail or by email (address and email were given in the notice).

Who's affected#

• Policyholders of the branch’s reinsurance business in Canada.
• Creditors who have claims against that reinsurance business.
• It is not clear from the notice whether other groups (for example, cedants or Canadian insurers that deal with the branch) will be affected.

Why it matters#

• If the regulator approves the release, the branch could free up or move assets it currently holds in Canada. That could change what assets are available in Canada to satisfy claims or obligations tied to its reinsurance business.
• The notice gives affected parties a formal chance to object before the regulator makes a decision. The deadline to act is June 15, 2026.