September 12, 2011 by BI&I
BI&I ADOPTS MUNICH RE BRAND
The Boiler Inspection and Insurance Company of Canada (BI&I), subsidiary of Hartford Steam Boiler Group (HSB) today announced that it is adopting the brand of its parent company, Munich Re, as part of a dual brand strategy that enriches Munich Re’s reputation for innovative risk solutions with the integration of the specialized technical capabilities of HSB.
Recognizing the strength of its North American equipment breakdown business, HSB’s iconic locomotive symbol and name will be preserved and appear in the context of the Munich Re brand. The dual brand combines the value of HSB Group’s leadership in equipment breakdown and technical risks with Munich Re’s reputation for forward thinking risk solutions. The Boiler Inspection and Insurance Company of Canada is adopting the dual brand and the acronym HSB BI&I.
“For the past two years, we’ve has been a proud part of the Munich Re family,” said John Mulvihill, president and chief executive officer at HSB BI&I. “Now, we are better than ever. The combined capabilities of Munich Re and HSB BI&I allow us to stay ahead of emerging trends and meet tomorrow’s challenges, helping our clients grow profitably through industry-leading risk solutions.”
HSB BI&I is also now part of Munich Re’s Risk Solutions portfolio. Risk Solutions is a competency designation for Munich Re companies that specialize in complex risks. The designation distinguishes our offerings from the traditional reinsurance business of Munich Re.
Added Tony Kuczinski, chief executive officer of Munich Reinsurance America Inc. and chairman of HSB Group, “In 2009, we knew we had acquired the leader in equipment breakdown insurance and engineering services in HSB. Over the past two years we’ve shown that HSB supports Munich Re with skill sets, offerings and market positions that fit well together. Now, we’re taking the next step by launching a new dual brand that highlights HSB’s position as a valued member of Munich Re, while maintaining the proud heritage of HSB.”
Munich Re concluded the successful acquisition of HSB Group, which included Hartford Steam Boiler and its subsidiaries in Canada (The Boiler Inspection and Insurance Company of Canada) and the United Kingdom (HSB Engineering Insurance Limited), in April 2009.