General Reinsurance UK Limited · London United Kingdom
Company Description
Phone: +44-20-7426-6000
Fax: +44-20-7426-6001
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This link will open in a new window A major general in the reinsurance trench battles in Europe, General Reinsurance UK is the property/casualty insurance subsidiary of US-based General Re , one of the world's largest reinsurance concerns. Although the company has headquarters operations in London, along with sister life and health reinsurance unit General Reinsurance Life UK , its principal property/casualty insurance markets are France and Germany. The company offers property facultative and casualty facultative reinsurance as well as specialty areas that include ocean marine and treaty reinsurance. To read the full description, subscribe now.
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Key General Reinsurance UK Limited Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $66.0 |
| Employees | 132 |
General Reinsurance UK Limited Executives
11 executives listed for General Reinsurance UK Limited's London, location.
| Title | Name & Bio | Contact |
| Managing Director, Treaty | Peter Nance | Network |
| Second VP, Finance | George Kopsis | Network |
| Second VP, IT | Richard Kelly | Network |
Competition
Competitive Landscape for General Reinsurance UK Limited
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top General Reinsurance UK Limited Competitors
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