(Bloomberg) -- Munich Re named Andreas Kleiner to lead American Modern Insurance Group, the U.S. unitthat is reshaping its business mix after the departure of itsprevious chief executive officer.
|Kleiner is joining from Munich Re’s Ergo International subsidiary, where he hasbeen a member of the board of management since 2007 and hadresponsibility for primary coverage in locations including India,Vietnam, Singapore, Turkey and Greece, American Modern said in astatement Tuesday. He is moving to the Cincinnati area and startsin his new role May 1. He replaces Manny Rios, who left in Augustand was appointed last month to lead the South African insurerTelesure.
|Related: American Modern announces new brandidentity
|American Modern insures more than 1.7 million policyholders,protecting manufactured homes, boats, classic cars and motorcycles.The company said last month that it is retreating from the lender-placed insurancebusiness, which provides protection to mortgagelenders on U.S. homes where borrowers have lapsed on premiums.Kleiner, who will help wind down that business, joined Munich Re asa fire engineer in 1993 and held a post in Asia and ran an Africareinsurance operation before taking the Ergo role.
|“In the 23 years that he has been with Munich Re, Andreas hasmade a significant positive impact at each unit he has headed— whether in Singapore, Johannesburg, or Dusseldorf,” PeterRoeder, a member of Munich Re’s board of management for NorthAmerica, said in the statement. “Andreas will continue thisoutstanding leadership with American Modern.”
|Related: Munich Re jumps most in four years after dividendbeats forecast
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