Sterling Life announces Michael A. Muchnicki as President and CEO
Bellingham, WA. – 17 August 2009
Sterling Life Insurance Company announces the Appointment of Michael A. Muchnicki as
President and Chief Executive Officer.
Sterling Life Insurance Company announced that it has appointed Michael A. Muchnicki to the position of President and Chief Executive Officer, effective today. Mr Muchnicki succeeds Debbie Ahl, former President and Chief Executive Officer of Sterling, who retired on July 31, 2009.
Mr. Muchnicki was most recently the President and Chief Executive officer of Touchstone Health Partnership Inc., in New York. “With his extensive industry experience, track record for achieving profitable growth and strong leadership skills, I am confident that Michael will continue to establish Sterling as a leader in the seniors market.” said Edward Griese, President of Munich Health North America. The Munich Re Group acquired a 100% stake in Sterling Life Insurance Company in 2008 and has made significant investments to expand the company’s products, services and operations. Mr Griese continues: “the acquisition of Sterling is a central component of the Munich Health strategy. Sterling remains committed to the Medicare market and will continue to expand its product and service offerings.”
Mr. Muchnicki was the President of Vista Healthplans in Florida which was acquired by Coventry Health Care in 2007. He spent most of his career at UnitedHealth Group where he served as President and CEO of the Ohio, Louisiana and South Florida markets. In addition, he was the Regional Vice President for the Southeast and the Caribbean markets for CIGNA Healthcare. Michael has offered his time and expertise, serving as a board member, to non profit organizations such as the American Heart Association, The Make-A-Wish Foundation and the American Red Cross. Muchnicki says, “I am pleased to have the opportunity to join the outstanding team of people at Sterling as we lead this company to the next level of development in one of the fastest growing health markets serving the senior population.”
Note for editorial departments
In case of enquiries, please contact:
Sterling Life Insurance Company
Liz Bardon
Communications Coordinator
Sterling Life Insurance Company
2219 Rimland Dr.
Bellingham, Washington 98226
Telephone: +1-360-647-9080
Fax: +1-360-685-5886
E-mail: Liz.bardon@sterlingplans.com
Munich Health North America, Inc.
Claudia Scott
Vice President, Marketing
Munich Health North America, Inc.
555 College Road East
Princeton, New Jersey 08543
Telephone: +1-609-419-8578
Fax: +1-609-951-8464
E-mail: cscott@munichreamerica.com
Sterling Life Insurance Company, an A.M. Best A- (Excellent) rated company, is dedicated to providing a variety of affordable healthcare solutions to Medicare beneficiaries. They currently have over 50 offices across the nation and are licensed in 50 states and the District of Columbia. Sterling is wholly owned by Munich-American Holding Corporation.
The Munich Re Group operates worldwide, turning risk into value. In the financial year 2008, it achieved a profit of €1,528m on premium income of around €38bn. The Group operates in all lines of business, with around 44,000 employees at over 50 locations throughout the world and is characterised by particularly pronounced diversification, client focus and earnings stability. With premium income of around €22bn from reinsurance alone, it is one of the world's leading reinsurers. The primary insurance operations are mainly concentrated in the ERGO Insurance Group. With premium income of over €17bn, ERGO is one of the largest insurance groups in Europe and Germany. It is the market leader in Europe in health and legal expenses insurance, and 40 million clients in over 30 countries place their trust in the services and security it provides. The global investments of the Munich Re Group amounting to €175bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
Disclaimer
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.
17 August 2009
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