Major player closes office

An international insurer has announced it is closing its Melbourne office as part of a global shakeup to reorganise its operations.

Gen Re, a Berkshire Hathaway Company and one of the leading Property/Casualty and Life/Health reinsurers in the world, will reorganize its Direct Global P&C operations in an effort to position the company’s team for the future.

Gen Re President and Property & Casualty Chief Marketing Officer Bob Jones says the company is aiming to capitalise on tomorrow’s opportunities.

“When you add technology to the equation, being a direct reinsurer in the 21st century has evolved from where it was two decades ago,” he says.

“We need to deliver underwriting and claims expertise in the most effective manner, while not compromising the quality of our products and promises. This new structure positions us to deliver on that.”

As a result of a recent analysis, six smaller Property & Casualty operations will be integrated into teams in larger locations to facilitate a more robust delivery of services to its clients.

That will see Property & Casualty operations discontinued at Melbourne, Hong Kong, Riga (Europe) and North American locations Charlotte, Seattle and St. Paul.

Despite the changes, Gen Re says it remains committed to these markets, servicing clients, and pursuing new opportunities across all regions.