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STERLING

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About STERLING

Ever wonder who insures insurance companies? Munich Reinsurance America is one of the top providers of property/casualty reinsurance in the US. The company is a subsidiary of German firm  Munich Re, and it operates as Munich Re in its territories. The firm provides treaty reinsurance (reinsurance for groups or categories of risks) and facultative reinsurance – more... (reinsurance for individually negotiated risks) to both large and small primary insurers. It also offers specialty property/casualty insurance coverage through its American Modern Insurance Group and HSB Group subsidiaries, and its Specialty Markets unit provides risk management for educational institutions, religious organizations, and not-for-profit entities.

Munich Re America has about a dozen locations across the US; it markets its products and services directly and through independent brokers. Reinsurance is its primary offering, covering insurance risks in areas including auto, agriculture, marine, professional liability, and workers' compensation, as well as other personal and commercial property/casualty lines. Its subsidiaries include American Alternative Insurance (specialty underwriting) and Princeton Excess and Surplus Lines Insurance (specialty underwriting).

Parent Munich Re has been rapidly expanding its operations in North America; the region accounts for about 25% of global premiums. For instance, in 2009 the US division expanded through the acquisition of HSB Group, which provides niche specialty insurance and reinsurance policies through The Hartford Steam Boiler Inspection and Insurance Company. HSB Group, which was purchased for $739 million (plus $76 million in debt) from American International Group, became an independently operated subsidiary of Munich Re America.

Previous acquisitions have included the 2008 purchases of specialty insurance provider The Midland Company for some $1.3 billion, which expanded its niche property/casualty insurance operations in the US market. Midland's American Modern Insurance Group (AMIG) subsidiaries became part of the Munich Re America organization.

Munich Re America's former health insurance and health reinsurance operations were transferred to a new global Munich Re division, Munich Health, as part of a broader parent reorganization in 2009. The reorganization included the firm's Munich Re America HealthCare (health care-related risk services) subsidiary, which had expanded through the 2008 purchase of Sterling Life Insurance. – less

STERLING Employer Reviews

Office/Administrative Manager (Former Employee), Sterling, VASeptember 26, 2013
Warehouse Associate (Former Employee), sterling, va.January 7, 2013
courier (Former Employee), Herndon, VANovember 4, 2013
Sales Associate (Former Employee), Dulles, VAOctober 21, 2014
Art Teacher (Former Employee), Waterford, VASeptember 17, 2013

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