Munich Re senior VP to serve on trade finance advisory council in US

Karsten Herrmann, the senior vice president and manager of Munich Reinsurance America’s political risk and trade credit division, has been sworn in as a member of the Trade Finance Advisory Council (TFAC) committee to advise US Secretary of Commerce on trade finance programs and strategies.

The newly elected committee will offer advice and innovative solutions to US exporters for the challenges faced in accessing capital, and recommend strategies to expand trade financing options. TFAC members will report to the secretary of commerce on its activities and recommendations.

“We are honoured that Karsten was selected to serve on the TFAC,” said Steve Levy, president of reinsurance division, Munich Reinsurance America.

“He brings an extensive background and expertise in evaluating and structuring trade credit and political risk re/insurance transactions. His deep-rooted understanding of the risks facing exporters and their foreign buyers contributes to his ability to develop innovative solutions for these risks."