John Vasturia was named president of Munich Re America’s specialty markets and a member of the insurer’s U.S. P&C executive board. Jill Beggs has replaced Vasturia as head of new strategic markets, which includes Munich Re America’s innovation practice, corporate communications and the U.S. P&C cross-platform team. Vasturia and Begss will report to Tony Kuczinski, president and CEO.

“John Vasturia and Jill Beggs are leaders in every sense of the word,” Kuczinski said. “They are experienced and highly regarded individuals, who are able to effectively balance the demands of today’s competitive marketplace, with the acumen and flexibility required to take on the opportunities and challenges of tomorrow.”

Vasturia previously was head of new strategic markets, responsible for establishing an innovation practice and risk incubator for Munich Re’s U.S. P&C operations. Prior, he was president of regional clients underwriting. Since 1989, Vasturia has held a number of crucial production underwriting and management positions with the insurer, including branch facultative manager, regional facultative manager and client/broker executive in the broker market client group. He began his insurance career with the Chubb Group of Insurance Companies. Vasturia replaces Carsten Prussog, who has assumed a new leadership role with the insurer.

Jill Beggs also will serve as a member of the leadership team. Previously, Beggs was SVP and head of specialty lines underwriting, responsible for managing a portfolio of ocean marine, surety and political risk reinsurance business for U.S. clients. She began her career with Munich Re in 2002 as a property underwriter, and since had been promoted to a number of leadership positions, including SVP for the broker market division & property underwriter manager.

Prior to joining Munich Re, Beggs worked for Prudential Reinsurance Co. and Everest Reinsurance Co. She earned her undergraduate degree from Gettysburg College; is a chartered property and casualty underwriter, and has earned the Associate in Reinsurance designation.

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