Munich Re has invested in growing its US health reinsurance business. It has done so because of better opportunities arising from the new national health reform law known as the Affordable Care Act (ACA), also known as Obamacare, it said.
The German-based reinsurer has opened a new regional office in Minnetonka, Minnesota.
Munich Health North America president & CEO Donna Peterson said that the expansion shows the commitment of Munich Re to the health reinsurance market and to the Managed Care segment specifically.
“Munich Re is well positioned to support its clients in evaluating and protecting their risk position as they work their way through the ACA maze," Peterson added.
Munich Re's Managed Care unit president David Sipprell will manage the Minnetonka office.
Sipprell said, "There is a deep pool of executive management, underwriting and actuarial talent throughout the Minnesota region. At the same time many of our clients also reside in this area, so it makes perfect sense for us to have a permanent presence here."
Munich Health is one of three business segments of Munich Re, and all overseas health care business in insurance and reinsurance operations, as well as related services are combined under the Munich Health brand.
Munich Re, Affordable Care Act, Obamacare, Donna Peterson