General Re Life Corporation, Connecticut (CT)-Products, Location, Careers, Owner, Reviews : Insurance Blob

General Re Life Corporation: A Reinsurance Giant

General Re Life Corporation is a reinsurance company that offers a range of products and services to the life and health and property and casualty insurance industries.

An image to Illustrate: General Re Life Corporation — What is General Re Life Corporation and how does it work? Explore the concept of reinsurance and its implications for life and health insurance policyholders and insurers/PHOTO COURTESY: Facebook

It is a subsidiary of General Reinsurance Corporation, which is a member of the Berkshire Hathaway family of companies.

In this article, we will give you an overview of General Re Life Corporation, its history, its financial performance, its locations, and its employees.

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What is General Re Life Corporation?

General Re Life Corporation is a reinsurance company that specializes in life and health reinsurance products and services.

It provides reinsurance solutions to insurance companies, banks, pension funds, and other financial institutions in the United States and internationally.

It offers individual and group life, annuity, health, disability, long-term care, and critical illness reinsurance, as well as financial solutions such as capital management, risk transfer, and asset-liability management.

General Re Life Corporation is a direct reinsurer, which means that it deals directly with its clients rather than through intermediaries.

It works closely with its clients to understand their strategic and operational goals, offering a wide range of tools and resources that aim to promote their growth and success.

It also has access to the financial strength and expertise of its parent company, General Reinsurance Corporation, and its ultimate owner, Berkshire Hathaway Inc.

How did General Re Life Corporation start?

General Re Life Corporation was established in 1938 as the life reinsurance division of General Reinsurance Corporation.

General Reinsurance Corporation was founded in 1921 as the General Casualty and Surety Reinsurance Corporation, before it took over the U.S. business of the Norwegian Globe Insurance Company of Christiania, Norway.

In 1923, American investors acquired the company and changed the name to General Reinsurance Corporation.

In 1994, General Reinsurance Corporation formed an alliance with Cologne Re (now General Reinsurance AG), a German reinsurance company that was founded in 1846.

Berkshire Hathaway Inc., a multinational conglomerate led by Warren Buffett, acquired General Re Corporation, the holding company for General Reinsurance Corporation and its subsidiaries.

In 2003, General Reinsurance Corporation and Cologne Re began marketing globally under the brand name Gen Re.

How is General Re Life Corporation doing financially?

General Re Life Corporation is one of the leading life and health reinsurers in the world.

According to its 2020 annual statement, it had total assets of $29.4 billion, total liabilities of $25.9 billion, and total capital and surplus of $3.5 billion.

It had net premiums written of $2.4 billion, a net income of $307 million, and a return on equity of 8.9%.

It also had a combined ratio of 94%, which means that it spent less than it earned from its underwriting activities.

General Re Life Corporation is part of Gen Re’s global reinsurance and related operations.

Gen Re has more than 40 offices worldwide and operates in all major reinsurance markets.

According to Berkshire Hathaway’s 2020 annual report, Gen Re had net premiums written of $11.5 billion, net income of $1.7 billion, and return on equity of 10%.

It also had a combined ratio of 94%, which means that it was profitable from its underwriting activities.

Where are General Re Life Corporation’s offices?

General Re Life Corporation’s headquarters are in Stamford, Connecticut.

In North America, it also operates in Atlanta, Boston, Chicago, Columbus, Dallas, Hartford, Kansas City, Los Angeles, Montreal, New York, Philadelphia, San Francisco, Seattle, South Portland, St. Paul, and Toronto.

Internationally, it has offices in:

Beijing,
Bogota
Brussel
Buenos Aires
Cape Town
Cologne
Dubai
Dublin
Frankfurt
Hong Kong
Istanbul
Johannesburg
London
Madrid
Melbourne
Mexico City
Milan
Mumbai
Paris
Sao Paulo
Seoul
Shanghai
Singapore
Sydney
Taipei
Tokyo
Zurich.

How many employees does General Re Life Corporation have?

General Re Life Corporation has about 1,000 employees worldwide.

According to Zippia.com, a career website that provides information about companies and jobs, 32% of General Re Life Corporation employees are women and 46% are marginalized groups.

The most common ethnicity at General Re Life Corporation is White (54%), followed by Asian (20%) and Hispanic or Latino (12%).

Most common degree level of its employees is a bachelor’s (66%), followed by master’s (21%) and associate’s (11%).

The most common major among its employees is computer science (16%), followed by business (15%) and accounting (14%).

FAQs

Who is the CEO of Gen Re?

The CEO of Gen Re is Kara Raiguel, who was appointed in 2016.

She is also the President of General Re Corporation, the holding company for Gen Re’s global reinsurance and related operations.

Who owns General Reinsurance?

General Reinsurance is a wholly owned subsidiary of Berkshire Hathaway Inc., a multinational conglomerate led by Warren Buffett.

Berkshire Hathaway acquired General Reinsurance in 1998 for $22 billion in stock.

Where is General Re Life’s headquarters?

General Re Life Corporation, a direct reinsurer that conducts business as Gen Re, is headquartered in Stamford, Connecticut, United States.

The address is 120 Long Ridge Road, Stamford, CT 0690256.

What does a reinsurance company do?

A reinsurance company, or a reinsurer, is a company that provides insurance to insurance companies.

Reinsurers play a major role for insurance companies as they allow the latter to help transfer risk, reduce capital requirements, and lower claimant payouts.

Reinsurers also offer expertise, guidance, and services to insurance companies in various aspects of their business.