Herbert Clough Inc. Changes Name to Gen Re Intermediaries

July 30, 2002

Global reinsurer, General Re Corporation, a subsidiary of Berkshire Hathaway Inc., announced a new name for its Stamford-based reinsurance intermediary company, Herbert Clough Inc. Herbert Clough now operates under the name Gen Re Intermediaries Corporation.

Gen Re Intermediaries was established in 1926 and under its new name, will continue to offer clients an operation that focuses primarily on solutions for property catastrophe, casualty clash, terrorism, aviation, and workers’ compensation excess of loss lines of business.

The organizational structure will remain unchanged under the leadership of Robert E. McGowan, president and COO.

“We have a unique competitive advantage. We offer our clients full access to the capacity of the worldwide reinsurance marketplace at competitive terms, coupled with the unbiased risk advisory perspective that can only be provided by an entity that has the collective insight of one of the world’s largest risk underwriting entities,” said McGowan. “The current marketplace has evolved into one where reinsurers are taking much more of a technical approach to quantifying the cost of risk transfer and establishing coverage terms and conditions. Gen Re Intermediaries is well positioned to provide insurers with the finest blend of risk analytics to not only facilitate reinsurance program design and syndication, but also allow our clients to better manage their gross and net risk portfolios.”

General Re is a holding company for global reinsurance and related risk management operations. It owns General Reinsurance Corporation and a controlling interest in Cologne Re. Both companies operate under the brand name GeneralCologne Re.

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