General Re Corporation, a subsidiary of Berkshire Hathaway Inc., announced that it has been issued a license to operate as a composite reinsurance company in China on a nationwide basis.
Gen Re’s branch will be located in Shanghai, while the Company’s representative office in Beijing and its branch in Hong Kong will be maintained as they currently operate.
Gen Re has been active throughout Asia for many years, with offices in Beijing, Hong Kong, Shanghai, Taipei, Seoul, Singapore and Tokyo. The Company has been doing business in China as an offshore reinsurer for a long time, working with leading Chinese insurers.
“We already have a long and successful history working with the Chinese insurance industry. The license will now allow us to provide our complete set of risk management tools to the industry. We are looking forward to this new era,” noted Dr. Wolfgang Droste, Gen Re’s CEO for Asia Pacific LifeHealth, who is Gen Re’s principal officer in China.
The bulletin listed the following associates, in addition to Dr. Droste, as its local management team: “Jeffrey Pan Shaohui Deputy General Manager – non-life treaty Tom Qiu Zhong Dong Senior Underwriter – property facultative Jenny Zhou Ni Chief Underwriter – life individual risk Tuan Miang Chua Chief Actuary – life actuarial Rob van Horssen Treaty Account Executive Darong Jin Chief Representative Beijing.
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