Gen Re Announces Retirement of Winfried Heinen

COLOGNE, Germany, Feb. 27 -- General Reinsurance, a subsidiary of Berkshire Hathaway, issued the following news release:

Gen Re announces the retirement of Winfried Heinen, its long-standing Head of Life and Health International business. Mr. Heinen joined Gen Re (then Cologne Re) in 1988. After 32 very successful years in the business, he has now decided to retire on 31 July 2020.

Mr. Heinen currently serves as the Chairman of the Executive Board of General Reinsurance AG, Gen Re's German legal entity and the main risk carrier for its international business. Effective 1 August 2020, the role of Executive Board Chairman will be assumed by Charles (Charlie) Shamieh, who is already a member of General Reinsurance AG's Executive Board. Mr. Shamieh is also Chairman of General Re Corporation - the Gen Re Group's holding company.

Mr. Shamieh said "We cannot thank Winfried enough. He has built a legacy and franchise that is second to none in the reinsurance industry and his impact on our Life and Health business will be a benefit to the corporate brand for years to come. Across five continents, he and his team have continuously fostered and developed tremendously valuable customer relationships and first-class reinsurance products and services. In doing so, they were standing on the shoulders of successful predecessors - and so will the next generation. I have enormous confidence in this team."

Mr. Heinen stated "In 2021, General Reinsurance AG will celebrate its 175th anniversary; it is the oldest reinsurance company in the world and in a class of its own. It's been a true privilege to have grown along with this incredible company and the wonderful team I've had the pleasure to be part of. No doubt, they will continue to write this success story for many more years to come."

Against the backdrop of Mr. Heinen's retirement and under the leadership of Mr. Shamieh, Gen Re's Life and Health International business will be run as three regional business segments:

* Asia led by Tuan Miang Chua

* Europe, Latin America and MENA led by Ulrich Pasdika

* Australia & New Zealand, Canada & Caribbean, Sub-Saharan Africa and UK & Ireland led by Peter Temple

As part of its succession planning responsibilities, the Supervisory Board of General Reinsurance AG is evaluating the appointment of another member to its Executive Board following Mr. Heinen's retirement. News of any new Executive Board appointments will be released upon Supervisory Board approval and the completion of regulatory requirements.

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About Gen Re

Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. We work closely with our clients to understand their strategic and operational goals, offering a wide range of products, tools and resources that aim to promote our clients' ongoing growth and success.

Gen Re is a member of the Berkshire Hathaway family of companies and has earned superior financial strength ratings from each of the major rating agencies. We take our commitments very seriously. With $15 billion in capital and $10 billion in premiums, we only make promises we can keep.