General Reinsurance

As a part of a global network operating in more than 45 locations globally, General Reinsurance (Gen Re) is one of the largest reinsurers in the industry, insuring the insurance companies. Offering a plethora of reinsurance products in both life and non-life areas, Gen Re personalizes risk transfer solutions for each client's coverage needs. Gen Re believes in being a "direct reinsurer" by working closely with its clients and helping to share the risk. The company provides risk assessment, transfer, and management services, in addition to asset management and capital analysis services. Gen Re manages over $40 billion in assets and 3,900 employees worldwide. It's also the largest property/casualty company in North America.

History

In 1921, two Norwegian companies, Norwegian Globe and Norwegian Assurance merged into one insurance company. Two years later, in 1923, American investors bought the newly formed Norwegian insurance company and renamed it General Reinsurance Corp. Since 1930, General Reinsurance has been merging with and acquiring companies in order to strengthen its underwriting ability, as well as its competitive edge in the global insurance market. General Reinsurance listed on the New York Stock Exchange in 1980. Fourteen years later, the company formed an alliance with Kölnische Rück (Cologne Re). Together, under the name Gen Re, their presence extended around the world. In 1998, Gen Re became a wholly owned subsidiary of Berkshire Hathaway, which is run by Warren Buffet.

Ratings

According to the independent rating agency A.M. Best, Gen Re has a stable financial outlook and an FSR rating of "A++" (Superior). A.M. Best listed strong liquidity, solid investment earnings and Gen Re's "excellent business position as a leader within the global reinsurance marketplace" as the some of the reasons for the rating.