American Re Creates Am-Re Global Services

Edward Noonan, president and CEO of American Re-Insurance Company, has announced the formation of Am-Re Global Services, Inc., a subsidiary of American Re Corporation. Am-Re Global Services will consolidate the reinsurance and retail insurance broking, captive and risk management, and the insurance and reinsurance consulting services of American Re and Munich Re.

Am-Re Global Services combines the Becher + Carlson Companies, a subsidiary of American Re that provides retail brokerage, risk management consulting, captive management and captive rental services; Am-Re Brokers, Inc., a U.S.-based reinsurance intermediary group, which is combining its operations with International Insurance Consultants, Munich Re's intermediary; ARB International, Inc., a Lloyd's broking house; and Am-Re Consultants, Inc., insurance and reinsurance consultants. Each company within the new group, except for International Insurance Consultants, will retain its current name and will become, "a member of Am-Re Global Services." International Insurance Consultants will merge with the operations of Am-Re Brokers, Inc. and operate under that name.

Mahmoud Abdallah will become chairman and CEO of Am-Re Global Services. David Carlson will serve as vice chairman, overseeing Becher + Carlson Companies, Am-Re Brokers, and ARB International. Richard Delaney will also serve as vice chairman and manage Am-Re Consultants.

The consolidation creates a global organization with more critical mass and capacity, with the new entity representing a formidable center of broking and consulting services within the Munich Re Group. Noonan states, "We believe that by consolidating these companies under one management structure, we will create significant opportunities that would not have been realized by these companies on a stand-alone basis. We are very optimistic that Am-Re Global Services, as it is now configured, will be better positioned to provide innovative and quality services to our clients worldwide."