Munich Re runs far afield in search for its US life insurance CFO

Munich Re reached well outside the insurance world to find a new CFO for its US life insurance operations, tapping the to-date CFO from payments firm DailyPay.

Scot Parnell (Pictured) becomes CFO to the unit to oversee the company’s finance and corporate actuarial functions, including financial reporting and analysis, expense and capital management as well as M&A activity.

Munich Re Life US CEO Marc Giguère commented: “Scot’s demonstrated and strong financial acumen, collaborative approach and proven leadership combine to make him a tremendous fit for this vital role. I look forward to Scot and his team’s contributions as we continue to strengthen our reinsurance business throughout the U.S.”

Parnell joins Munich Re Life US from DailyPay, where he served as CFO and played an integral role in leading the company’s efforts in the on-demand pay industry.

The closest he has previously been to the insurance world is arguably a stint at the Teachers Insurance and Annuity Association of America. His resume also brags of tenure at petfood producer the Crump Group and the Student Loan Corporation.

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