Business model
How we add value to the group Munich Re
Great Lakes UK is a specialist provider of insurance services for the group Munich Re. By sharing in the knowledge network of the Group and by means of our worldwide insurance licences, we develop and support innovative opportunities in partnership with Munich Re.
Great Lakes UK uses two distinct models for accessing insurance business: The first is delegated acceptances via Agency or Coinsurance Agreements and the second is individual acceptances of Large Industrial Risks.
By providing the framework for bespoke primary insurance solutions and keeping reinsurance agreements with many business units of Munich Re, we connect insurance and reinsurance to make profitable business opportunities in attractive primary insurance niche segments accessible to Munich Re.
Where we are currently licensed to write business
| United Kingdom: |
Permission for effecting and carrying out all classes of general insurance business in the UK |
| European Union: |
Licensed throughout the European Union single market under Freedom of Services |
| United States of America: |
Surplus Lines licensed in 49 US states |
| Switzerland: |
Permanent Establishment |
| Italy: |
Permanent Establishment |
| Australia: |
Permanent Establishment |
| New Zealand: |
Permanent Establishment |
| Worldwide: |
Able to underwrite in many other worldwide locations on a non-admitted basis |
- The Great Lakes UK Licensing Specialist provides in-depth expertise and technical knowledge accessible to Munich Re Business Units.
- The global licensing guide is frequently updated as a resource for Munich Re Business Units.
- Support and consultancy is provided for all licensing queries in response to Munich Re Business Unit enquiries.
In territories where we are currently not licensed, it may be possible to gain an exemption on a case by case basis. Where there is a valid business case, we will consider becoming licensed or opening a permanent establishment (see Australia, New Zealand and Switzerland).
