Latest Gen Re Headlines
All the headlines from our Gen Re Topic Page, ordered by recency.
Defendant in General Reinsurance, AIG Fraud Faces Sentencing
Apr 28 2009 // A former General Re senior vice president faces sentencing for his role in an accounting fraud scandal that artificially inflated the stock price of insurer American International Group Inc. Robert Graham is scheduled to...
Former General Re CFO Monrad Sentenced to 18 Months in Prison
Apr 2 2009 // The former chief financial officer at a unit of Berkshire Hathaway Inc. was sentenced to 18 months in prison Thursday for her role in a scheme to manipulate American International Group Inc.’s financial...
Gen Re to Pay $72M for Finite Reinsurance Transaction
Feb 26 2009 // General Re Corp., a reinsurance unit of billionaire Warren Buffett’s Berkshire Hathaway Inc., agreed to pay $72 million to settle investor claims about its role in a fraudulent transaction involving American...
Former AIG Vice President Sentenced to 4 Years for Reinsurance Scheme
Jan 28 2009 // The former vice president of reinsurance of American International Group Inc. (AIG) has been sentenced to four years in prison for his role in a fraudulent scheme to manipulate AIG’s financial statements, according...
Ex-General Re Chief Ferguson Sentenced 2 Years for Fraud
Dec 16 2008 // A former insurance executive was sentenced to two years in prison Tuesday for a scheme that prosecutors said allowed the American International Group to manipulate its financial statements through a sham reinsurance deal...
Former General Re, AIG Executives Could Face Life in Prison
Nov 5 2008 // Five former insurance executives tied to American International Group face up to life in prison under a financial manipulation scheme. The potential lengthy prison terms are the result of a federal judge’s ruling...
Best Affirms Gen Re’s A++ Rating
Aug 27 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Re Group and its members. The ratings apply to General...
People
Jun 2 2008 // Markel Corp. named Anthony F. (Tony) Markel vice chairman and Paul W. Springman president and chief operating officer. Markel has been associated with Markel Corp. for more than 40 years, most recently serving as president...
Judge: Evidence Showed Greenberg Phone Call in AIG/General Re Case
May 21 2008 // A U.S. judge who oversaw the trial of executives accused of helping American International Group Inc. inflate reserves said there was sufficient evidence to show the conspiracy started with a phone call from the...
Judge Rejects New Trial for Convicted Gen Re, AIG Executives
May 20 2008 // A federal judge has rejected requests to overturn the convictions of five former insurance company executives in a scheme to manipulate the financial statements of the world’s largest insurance company. The four...
Travelers Personal Lines Consolidation Hits N.J., Mass., N.Y.
May 5 2008 // Travelers Insurance is consolidating some of its personal lines business center activities across the country, a plan that will mean fewer jobs in Massachusetts and New Jersey but more in upstate New York. Travelers...
Cholnoky Promoted to President of General Reinsurance; Board Elected
Apr 30 2008 // General Re Corp. reports that I. John Cholnoky has been promoted to president of General Reinsurance Corp. and manager of Gen Re’s global direct Property and Casualty operations. Cholnoky’s responsibilities...
S&P, Best See no Ratings Changes as Brandon Leaves Gen Re
Apr 15 2008 // Neither Standard & Poor’s Ratings Services nor A.M. Best Co. anticipate making any ratings changes as a result of Joseph Brandon’s leaving his post as CEO of General Reinsurance Corp. S&P rates Gen Re...
Berkshire Says General Re Chief Brandon Resigns
Apr 14 2008 // Warren Buffett’s Berkshire Hathaway Inc. said Joseph Brandon has decided to resign as chairman and chief executive of its General Re Corp reinsurance unit, effective Monday. Franklin “Tad” Montross,...
Prosecutors Allegedly Pressing Berkshire to Remove Gen Re Head
Apr 11 2008 // Federal prosecutors want Berkshire Hathaway Inc. to replace the chief executive of its reinsurance subsidiary after four former executives of the company were convicted in February, according to a person familiar with the...
Five Execs Found Guilty of Fraud in Gen Re-AIG Trial
Mar 10 2008 // A federal court jury in Hartford, Connecticut, has found four former General Re Corp. executives and one former American International Group executive guilty of corporate fraud and conspiracy charges stemming from...
5 Execs Found Guilty of Fraud in Gen Re-AIG Trial
Feb 25 2008 // A federal court jury in Hartford, Connecticut has found four former General Re Corp. executives and one former American International Group executive guilty of corporate fraud and conspiracy charges stemming from...
Jurors to Begin Deliberations on Gen Re-AIG Reinsurance Case This Week
Feb 11 2008 // After a month of testimony, jurors in Hartford are expected to begin deliberating this week over the fate of former executives of General Re Corp., a reinsurance company owned by Berkshire Hathaway, without hearing from...
Trial Witness Says Buffett Was Told of General Re-AIG Deal
Feb 7 2008 // A former top executive for General Reinsurance Corp. e-mailed billionaire investor Warren Buffett in 2000 about a reinsurance transaction with American International Group Inc. that triggered a criminal trial, a government...
Trial Opens for Five Former Gen Re, AIG Executives
Jan 9 2008 // The former chairman and CEO of the world’s largest insurer initiated a deal that led to five ex-executives being charged in a scheme to manipulate the company’s financial statements, a federal prosecutor said...
