General Re Corp., one of the major subsidiaries of Berkshire Hathaway, announced that it has changed its global brand name for its insurance operations to “Gen Re.”
Chairman and CEO Joseph P. Brandon explained: “Nine years ago we started the process of bringing together two companies — General Re and Cologne Re — with rich histories, profitable traditions and talented staffs. Since then we have worked to build General Re and Cologne Re into one organization operating successfully across the globe.
“During the past two years we have made substantial progress toward this goal as evidenced by our improved underwriting results around the world. Accordingly, now is the right time to recognize these accomplishments by changing our global trade name to Gen Re. While we will always be proud of our various heritages, today we are one organization with broad capabilities, consistent values and an unwavering commitment to underwriting excellence. As such, Gen Re is uniquely positioned to provide all of our clients with superior underwriting and claims expertise, responsive service and unmatched financial security,” Brandon added.
The Berkshire Hathaway reinsurance group, of which Gen Re is the largest component, is the world’s third largest reinsurer, with over $14 billion in net premiums written in 2002, according to A.M. Best. The group is also the last remaining major reinsurer to be rated ‘AAA’ by Standard & Poor’s and ‘A++’ by Best.
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