The official name is Kölnische Rückversicherungs-Gesellschaft AG, known outside Germany as Cologne Re. It has been part of Berkshire Hathaway’s General Re since 2003, and has recently elected to change the company’s name to General Reinsurance AG, as of July 1.
In announcing the name change Tad Montross, spokesperson for the Board of Executive Directors of Cologne Re and the CEO of the General Re Group, noted that the company has been “operating under the brand name Gen Re on a global basis since 2003.”
He added that the company is “not changing the way we do business. We are not changing the legal entity or the management of that company. It is simply time after 16 years to project the reality – we operate around the world as one company. Market surveys confirm this and now our name will as well.”
Dr. Winfried Heinen, Deputy Spokesperson for the Board of Executive Directors, added: “Our local operations, based on our global strength, have transformed us into a company which is highly regarded internationally. A uniform name will symbolize our Group’s joint strength and strategy, regardless of operational legal entities.
We are additionally expecting the harmonization of our legal name to simplify administrative procedures, a development which will underpin our endeavors to operate our core business as simply and cost-effectively as possible – obviously, while maintaining the high quality standards to which our clients have become accustomed.”
Source: General Re
Was this article valuable?
Here are more articles you may enjoy.