Munich Re America strengthens team
Carsten Prussog, currently head of reinsurance development at Munich Re, will become president of the specialty markets division of Munich Re's US property/casualty reinsurance subsidiary, Munich Re America.
Prussog replaces Craig Smiddy, who recently announced his decision to leave the company. Prussog will report to Munich Re America president and CEO Tony Kuczinski.
The specialty markets division is the marketing and underwriting division of Munich Re America that provides custom risk transfer solutions and niche products for self-insureds, alternative market entities, managing general agents, managing general underwriters and programme administrators.
"This is an important and growing area of the US market and I am delighted to have someone of Carsten's calibre who can take this business to the next level for the Munich Re organisation,” said Kuczinski.
As head of reinsurance development at Munich Re, Prussog is currently responsible for the overarching strategy and structural target picture for global reinsurance business, including the primary insurance business conducted out of its reinsurance operations. Prior to joining Munich Re, Prussog was a partner at Bain & Company for eight years, where he worked with a number of reinsurance and insurance clients.