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Munich Re hires new CFO for US Life

IBR Staff Writer Published 23 September 2010

Munich American Reassurance (Munich Re) has appointed Michael Farley as new senior vice president & chief financial officer for the Finance and Corporate Actuarial departments.

Farley will succeed Jeffrey Katz, who continues with Munich Re leading the US living benefits, group and credit and underwriting areas. Farley will be located in Munich Re’s Atlanta office.

Farley will join Munich Re from a large US life reinsurer where he was senior vice president and chief financial officer for its US businesses. Previously, he served in various management, valuation, financial reporting, cash flow testing and risk management positions for Conseco, ING Re and Allianz.

Munich American Reassurance president and CEO Mike DeKoning said that Mike is a fantastic addition to the management team and the corporate finance department.

“Mike has also a very strong background in US GAAP, IFRS and US Statutory accounting and valuation methods,” DeKoning said.