Munich Re's Phelan to retire

PRINCETON, N.J.--After nearly six years of serving as chairman and chief executive officer of Munich Reinsurance America Inc., John P. Phelan will retire at the end of this year, Munich Re announced Wednesday.

Mr. Phelan joined Munich-based Munich Re Group in 1973, served as CEO of the reinsurer's Canadian nonlife business for 16 years, and in March 2002 was appointed to the chairman and CEO post at Princeton, N.J.-based Munich Re America--formerly known as American Re.

When he retires on Dec. 31, he will additionally retire from Munich Re's board of management.

Anthony J. Kuczinski, currently president of Munich Re America's specialty markets division, will succeed Mr. Phelan as CEO on Jan. 1, 2008.

"Tony Kuczinski is an experienced executive who is well known and respected in the U.S. market," said Nikolaus von Bomhard, CEO of parent Munich Re, in a statement. "His appointment as John Phelan's successor as CEO signals the continuation of our profit-oriented focus at Munich Re America and our commitment to the U.S. market."

Peter Roeder, head of Munich Re's strategy department, will succeed Mr. Phelan as chairman of Munich Re America.