Munich Reinsurance: Proposed Assumption Reinsurance

Summary#

On November 1, 2025, Munich Reinsurance America, Inc. (the MRAM Branch in Canada) said it will apply to the Superintendent of Financial Institutions (Canada) on or after December 3, 2025 for permission to be reinsured, on an assumption basis, by Munich Reinsurance Company of Canada. Treatyholders can inspect the proposed agreement in Toronto for 30 days after publication or request a copy by mail or email.

What it does#

• Announces MRAM’s intent to apply for regulatory approval to have itself reinsured, on an assumption basis, by Munich Reinsurance Company of Canada, covering all risks taken on by the MRAM Branch.
• The notice is made under subsection 587.1(4) of the Insurance Companies Act (Canada).
• A copy of the proposed assumption reinsurance agreement will be available for inspection by treatyholders at the MRAM Branch’s Chief Agency at 390 Bay Street, Toronto, Ontario M5H 2Y2 during regular business hours for 30 days after publication (November 1, 2025).
• Treatyholders can also get a copy by sending a written request to the Toronto address above or by email to p0060009947@mroc.com.

Who's affected#

• Treatyholders of the MRAM Branch — they are specifically given the right to inspect the proposed agreement and request a copy.
• Potentially the MRAM Branch’s policyholders and other counterparties — the notice does not spell out direct effects on them, but an assumption reinsurance could change which company ultimately carries the risk if it is approved.
• The Superintendent of Financial Institutions (Canada) — the regulator that will consider the application.

Why it matters#

• If the application is approved, the Canadian affiliate (Munich Reinsurance Company of Canada) would take on the MRAM Branch’s assumed risks, which can affect who ultimately deals with claims and financial responsibility for those risks.
• Treatyholders have a limited window (30 days) to review the proposed agreement or request a copy, giving them a chance to see the terms before any regulatory decision.
• This is an announcement of intent and an invitation for inspection; it is not approval or final transfer of risk.