Gen Re deal with Colonia a 'home run'; German reinsurer link makes Gen Re 'a truly global player.' (General Re Corp., Colonia Konzern AG)

National Underwriter Property & Casualty-Risk & Benefits Management, July, 1994 by Jennings, John

General Re Corp. hit a "home run...in fact, make that a grand slam," with its recently announced link up with Colonia Konzern AG of Cologne, Germany, parent of Cologne's Re, one leading analyst contends. General Re, the largest U.S. reinsurer in terms of net written premiums, is ranked fourth in the world.

Cologne Re is the world's fifth-largest reinsurer. "This was a clear victory for Gen Re," said Michael Smith, insurance industry analyst with Smith Barney in New York. "It is a great expansion move. There is a relatively short list of quality reinsurers, particularly in Continental Europe, that a company can link up with, but Cologne is on the list." The agreement in principle between General Re and Colonia completed negotiations to form a new company...

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