Gen Re Reorganizes Genesis Unit by Product Lines

February 15, 2005

Genesis Underwriting Management Company, a subsidiary of Berkshire Hathaway’s General Re Corporation, announced that it has reorganized from a regional basis to a product line basis to better serve the needs of its customers.

“These new divisions will bring the benefits of increased product specialization to the clients and markets Genesis serves,” stated Genesis President and CEO Patricia H. Roberts. “We have developed detailed plans to build on Genesis’ strong brand and commitment to the marketplace,” she continued.

The bulletin said: “Genesis Underwriting Management Company will have three divisions: Public Entity, Captives and Reinsurance Programs, and Commercial Insurance which will be led respectively by Robert M. Jones, Blaine A. Bontempo and Peter J. Greene. Genesis Professional Liability Managers continues to be headed by Kevin M. LaCroix. ”

The following is a summary of the operating areas and personnel of the reorganized divisions:
— The Public Entity Division, led by Robert M. Jones, provides comprehensive property and casualty insurance and reinsurance protection for individual public entities, purchasing groups, pools, or trusts that manage and retain risk exposures. Jones joined the General Re Group as an underwriter in 1987. He transferred to Genesis in 1993 where he has served as an underwriter and manager. In 1999 he assumed responsibility for coordinating Genesis’ public sector efforts. “Genesis’ new divisional structure provides even greater dedication to the public sector, a segment that has been critical for our organization,” Jones commented. “Reinforcing our commitment to the sector with added resources and increased staffing will allow us to elevate our response to existing and prospective public sector clients. We’re thrilled to have that opportunity.”

— Blaine A. Bontempo, who joined Genesis in 1990 as Vice President, will be the new leader for the Captives and Reinsurance Division. This operation will focus on three areas: group captives, single parent captives and risk retention group business. Mr. Bontempo and his team will be working closely with the captive managers to expand Genesis’ position in this business segment. “Our team has been reinsuring captives for more than fifteen years, and we are looking forward to continue finding risk solutions for clients and cedents,” Bontempo stated.

— The Commercial Insurance Division will be managed by Peter J. Greene, who joined Genesis in 1990 as a Vice President. This Division was formed to provide program administrators who manage homogeneous groups of business with admitted property, general liability, and products liability insurance. Greene stated, “We are pleased to further extend our capabilities to this broad market, and to complement what has been a long term successful book of program business for Genesis.”

— Genesis Professional Liability Managers (GPLM) will continue to provide D&O and EPL insurance under the leadership of Kevin M. LaCroix. He is the immediate past President of the Professional Liability Underwriting Society (PLUS). GPLM has recently revitalized its private company directors and officers liability insurance offering, and remains a leading market for Employment Practices Liability Insurance.

“This realignment is necessary to ensure that Genesis has the dedicated resources needed to serve our clients,” Roberts noted. “Each division will develop more customized products, services and claims handling to serve our clients’ unique needs,” she concluded.

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