Giguère and Naumann to succeed Forrest at helm of Munich Re North America Life

Global reinsurer Munich Re has announced the retirement of Mary Forrest, President and Chief Executive Officer (CEO), Munich Re North America Life, effective in the first quarter of 2026.

She will be succeeded by Marc-Andre Giguère, who will continue to oversee the United States, and Bernard Naumann, who will continue to lead Canada and the Caribbean.

The company has highlighted that its North America Life business achieved “remarkable” success during Forrest’s tenure, generating over €6 billion in insurance revenue and accounting for approximately 55% of the Group’s Life and Health reinsurance business written in 2024.

Some of her achievements include the company becoming the largest mortality risk taker in Canada, and establishing highly successful financial reinsurance teams dedicated to delivering innovative solutions to clients.

The reinsurer explained that Forrest’s vision for the digitalisation of North American data and the acquisition of access to extensive third-party datasets has enabled a deeper understanding of Munich Re’s portfolio risk.

Munich Re feels that is well-positioned for the future, with Giguère and Naumann leading the North America region.

Mari-Lizette Malherbe, Member of the Board of Management responsible for Life and Health, commented, “We are deeply appreciative of Mary’s dedication and contributions to our success over the years.

“Under her leadership, the life reinsurance business in the United States, Canada, and the Caribbean has experienced unprecedented growth and success. She has been instrumental in driving innovation, expansion, and excellence in these markets over decades, which will continue to inspire and motivate us as we move forward.

“We have every confidence in Marc’s and Bernard’s leadership, expertise, and teams to further enhance Munich Re’s market position in North America.”