American Re Sells Risk Management Unit

American Re Sells Risk Management Unit

By Michael Ha

NU Online News Service, Nov. 18, 2:10 p.m. EST?American Re Corporation has completed the sale of its risk management unit, Becher + Carlson Risk Management Inc., as part of its ongoing effort to focus on its core business, a company spokesperson said.

"We are really focusing on our core businesses of reinsurance and insurance, and Becher + Carlson wasn't part of that strategy," Terese Rosenthal, American Re spokesperson, told National Underwriter.

Details of the transaction were not disclosed, but buyers include Becher + Carlson's own management and employees, as well as other investors, Ms. Rosenthal said. Becher + Carlson has some 30 employees and six offices located throughout the United States and Bermuda. It specializes in providing property-casualty brokerage and insurance consulting services and captive management services.

Ms. Rosenthal added that even after the sale, American Re and Becher + Carlson will maintain their business relationship. "Becher + Carlson will continue managing American Re's Bermuda-based rental captive facilities," she said.

American Re, a member of the Munich Re Group, provides reinsurance in the United States. Through its subsidiaries, it also writes treaty and facultative reinsurance, insurance, and provides related services to insurance companies, other large businesses, government agencies, pools and other self-insurers.