Gen Re will reorganise its direct global property and casualty (P&C) operations in an effort to position its team for the future.
According to Gen Re, it evaluated its footprint around the global to most effectively serve clients. As a result, the company has decided to run six smaller P&C operations that will be integrated into teams in larger locations to facilitate a more robust delivery of services to its clients.
Gen Re has decided to discontinue P&C operations in Charlotte, Seattle, and St. Paul, Riga, as well as those in Hong Kong and Melbourne.
The company will remain committed to these markets, servicing clients, and pursuing new opportunities across all regions.
Gen Re said that throughout the transition, the company will work closely with its regulators to ensure that the transition is appropriately managed, regulations are followed and obligations to its clients are met.
Bob Jones, president and P&C chief marketing officer of Gen Re, commented: “We have reviewed our entire global footprint, and with this change, we are positioning Gen Re’s P&C operation to address the realities of today’s markets, while capitalising on tomorrow’s opportunities.”
