On Thursday, Munich Reinsurance America announced that Chief Financial Officer Steven Levy has been named president of the Reinsurance Division, effective October 1, 2014.

Levy replaces Pina Albo, who will join Munich Re’s board of management in October.

A new CFO has not yet been named.

Levy has served as Munich Re America’s CFO since 2003. He also has responsibility for enterprise risk management, information technology and procurement.

Prior to becoming CFO, he was president of the company’s credit and surety division.

He joined the company in October 1997 as vice president in the financial products division, after having worked in several sectors of the financial services industry.

Levy holds an A.B. in Mathematics from Dartmouth College and an M.B.A. from The Wharton School, University of Pennsylvania, as well as a Chartered Financial Analyst designation.

The Reinsurance Division is the marketing and underwriting division of Munich Re America that provides risk transfer solutions for U.S. property/ casualty insurance companies.

Levy will continue to report to Munich Re America President and Chief Executive Officer Tony Kuczinski.

Source: Munich Re