Gen Re
| General Reinsurance Corp.
|
|
|---|---|
 |
|
| legal form | Corporation |
| founding | 1846 (Kölnische Rückversicherungs-Gesellschaft), 1921 (General Reinsurance Corporation) |
| Seat |
Stamford , Connecticut ,
|
| management | Kara Raiguel (President and CEO ) |
| sales | 6,264,000,000 USD (net premiums 2014) |
| Branch | reinsurance |
| Website | www.genre.com |
The Gen Re and General Re (short for General Reinsurance Corporation ) is a global reinsurance company that operates in the areas of property / casualty and life / health reinsurance and offers products and services. It is owned by Berkshire Hathaway Inc. , the holding company of star investor Warren Buffett .
The General Re Corporation , a subsidiary of Berkshire Hathaway Inc. is a holding company for businesses in the area of global reinsurance and related activities. It owns the General Reinsurance Corporation and General Reinsurance AG . Together they run their business as Gen Re . The Gen Re Group also includes the insurance, reinsurance and investment management companies Gen Re Intermediaries , GR-NEAM , General Star , Genesis , USAU and Faraday .
history
Cologne Reinsurance Company
The company was founded in 1846 and started business in 1852 when the first reinsurance contract was signed. According to its own statements, General Reinsurance AG is the oldest internationally active reinsurance company in the world.
The impetus for the creation of a reinsurer was the experience of the Great Hamburg Fire in May 1842. All Hamburg building owners had compulsory insurance with the Hamburger Feuerkasse , which had previously (1833) introduced new value insurance. However, the simultaneous settlement of claims for around 20% of the entire Hamburg building stock overstrained the insurer's solvency. It only succeeded by taking up government bonds that were only paid back 40 years later.
General Re
The company began as General Casualty and Surety Reinsurance Corporation in 1921 before taking over the US business of Norwegian Globe Insurance Company (then Christiania, Norway).
In 1923 the company was taken over by US investors and renamed General Reinsurance Corporation .
In 1929 General Reinsurance decided to operate exclusively as a direct reinsurer. In 1945 it merged with the Mellon Indemnity Corporation . In 1954 the company founded the first specialist department for facultative liability and accident reinsurance; optional property and damage insurance followed in early 1956. At the same time, several branches were opened in North America. General Reinsurance also began to write reinsurance internationally in the 1950s - a trend that continued into the 1960s and 1970s. In 1980, the holding parent company General Re Corporation was listed on the New York Stock Exchange.
In 1994 the General Reinsurance Corporation formed an alliance with what was then Cologne Re ( Kölnische Rückversicherungs-Gesellschaft AG ). In 1998, General Re Corporation of which was Berkshire Hathaway Inc. acquired. From 2003 the General Reinsurance Corporation and the Cologne Re operated their business together under the name Gen Re . In 2009 the General Reinsurance Corporation completed the acquisition of the Cologne Re, which was then renamed General Reinsurance AG . The company continues to appear in the market as Gen Re.
Business activity
As a reinsurer with a direct business model , Gen Re offers reinsurance solutions for companies in all segments of the insurance industry, both on a contractual and facultative basis. Gen Re's property and casualty reinsurance business in North America is conducted through General Reinsurance Corporation and internationally through Germany-based General Reinsurance AG and other wholly-owned subsidiaries. Gen Re writes life and health reinsurance in North America through General Re Life Corporation and internationally through General Reinsurance AG.
Branches
Gen Re is headquartered in Stamford, Connecticut, USA. Subsidiaries and branches 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, Gen Re has offices in Latin America, Europe and the Middle East, Africa and Asia / Australia.
Individual evidence
- ↑ General Re Corp.
- ↑ The Gen Re Today. Annual Review 2014 (PDF) Gen Re. P. 14. Accessed August 7, 2015.
- ↑ The Gen Re Group . Gen Re. Retrieved January 10, 2015.
- ^ History of the Cologne Re . Gen Re. Archived from the original on August 3, 2013. Retrieved January 10, 2015.
- ^ History of the Hamburger Feuerkasse . Hamburger Feuerkasse. Archived from the original on June 22, 2015. Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved January 10, 2015.
- ^ Proceedings of the Casualty Actuarial Society (PDF) Casualty Actuarial Society. P. 71. Retrieved January 10, 2015.
- ↑ Entry of the transfer resolution according to Sections 327a ff. AktG (ad hoc announcement according to Section 15 WpHG February 2009) . Gen Re. February 12, 2009. Archived from the original on March 16, 2009. Retrieved January 10, 2015.
- ↑ Kölnische Rück becomes General Reinsurance AG on July 1, 2010 (press release) . Gen Re. June 1, 2010. Archived from the original on June 14, 2010. Retrieved January 10, 2015.
- ↑ The Gen Re worldwide . Gen Re. Retrieved January 10, 2015.
Web links
- Gen Re homepage (German)
- Gen Re (Germany) in the company database of BaFin
- Early documents and newspaper articles on Gen Re in the 20th century press kit of the ZBW - Leibniz Information Center for Economics .