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Member, Beacon International Group, Ltd.
ARMONK, N.Y.--Swiss Reinsurance Co. on Monday said it has finalized and received regulatory approval for the integration of GE Reinsurance Corp. into its Armonk, N.Y.-based Swiss Reinsurance America Corp. unit.
For clients who had their coverage formerly provided by the GE Reinsurance, all past claims obligations are being transferred to Swiss Reinsurance America Corp.
In addition, all renewal business will be written, or quickly moved, to Swiss Reinsurance America Corp. paper for all GE Reinsurance clients who had their reinsurance business managed by GE Reinsurance, but written on Employers Reinsurance Corp. paper, according to Swiss Re.
Swiss Re's acquisition of the property/casualty business of GE Insurance Solutions, the insurance and reinsurance subsidiary of General Electric Co., was completed in June.