Gen Re
Gen Re and General Re (short for General Reinsurance Corporation ) is a casualty and Lebens-/Kranken-Rückversicherungsgesellschaft and part of Berkshire Hathaway Inc.
History
Cologne Reinsurance Company
The company was founded in 1846 and adopted in 1852 with completion of the first reinsurance contract the business on. According to his own statements at the General Reinsurance AG is the oldest international reinsurance companies in the world.
The impetus for the creation of a reinsurer gave the experience of the Great Fire of Hamburg in May 1842. Hamburger All building owners had insurance at the Hamburg fire box office, which previously ( 1833) had introduced a replacement value insurance. However, the concomitant claims for around 20 % of the total building stock Hamburger overtaxed the solvency of the insurer. It was only by the inclusion of government bonds, which were repaid until 40 years later.
General Re
The story of General Reinsurance Corporation began in 1921, when the two Norwegian companies Norwegian Globe and Norwegian Assurance merged General Casualty and Surety Reinsurance Corporation under the name. 1923, the company was acquired by U.S. investors and renamed General Reinsurance Corporation. 1929, decided at the General Reinsurance to operate exclusively as a direct reinsurer. In 1954, the company established the first department for the optional liability and casualty reinsurance; facultative property and casualty insurance took place in early 1956. several branches were opened at the same time in North America. Furthermore, the General Reinsurance began in the 1950s, and internationally to draw reinsurance - a trend that continued in the 1960s and 1970s. In 1980, the holding parent company General Re Corporation was listed on the New York Stock Exchange.
1994 was the General Reinsurance Corporation formed an alliance with the former Cologne Re ( Cologne Reinsurance Company AG). In 1998, the General Re Corporation was acquired by Berkshire Hathaway Inc., and in 2003 began at the General Reinsurance Corporation and the Cologne Re to operate their business under the name Gen Re. 2009 joined General Reinsurance Corporation from the acquisition of the Cologne Re, which was then renamed to General Reinsurance AG. The company enters the market continues as Gen Re on.
Operations
Reinsurers ' insure insurance companies ", that is, they pay part of the losses of an insurance company in return for a portion of the premiums received by the insurance company for policies to cover these damages.
As a reinsurer with a direct business model, the Gen Re provides reinsurance solutions for companies in all segments of the insurance industry, both on contract and on an optional basis. The property and casualty reinsurance business of Gen Re in North America will be completed through the General Reinsurance Corporation, internationally about the Germany-based General Reinsurance AG and other wholly owned subsidiaries. Life and health reinsurance records the Gen Re in North America through the General Re Life Corporation and internationally through General Reinsurance AG.
General Re Corporation is a wholly owned subsidiary of Berkshire Hathaway Inc., the files kept by investor Warren Buffett holding company. Other companies of the General Re Corporation group include Gen Re Intermediaries, a reinsurance broker and risk adviser, General Star, a special and exceedances insurer, Genesis, a provider of alternative risk transfer programs, Faraday, an agent working in the London market reinsurers, USAU, an aviation insurance company, and GR- NEAM, an approved by the U.S. SEC investment adviser to the insurance industry.
Offices
The headquarters of Gen Re is located in Stamford (Connecticut), USA. And branch offices are spread all over the world:
In North America, Gen Re also has offices in Atlanta, Boston, Charlotte, Chicago, Columbus, Dallas, Hartford, Kansas City, Los Angeles, Montreal, New York, Philadelphia, San Francisco, Seattle, South Portland, St. Paul and Toronto.
In addition, the Gen Re in Latin America (Mexico City, São Paulo ), Europe and the Middle East (Beirut, Cologne, Copenhagen, London, Madrid, Milan, Moscow, Paris, Riga, Vienna, Warsaw ), in Africa ( Cape Town, Johannesburg), Asia ( Hong Kong, Mumbai, Beijing, Seoul, Shanghai, Singapore, Taipei, Tokyo) and the Asia / Australasia ( Auckland, Melbourne, Sydney ) with offices.