(May 23 – 09:45 ET) – Insurance companies seeking reinsurance from GE Capital in Canada will find access easier through a plan announced by Employers Reinsurance Corporation (ERC).
Beginning immediately, ERC will market and underwrite property and casualty reinsurance risks in Canada both directly with ceding companies and through reinsurance intermediaries serving the Canadian market. Two other GE businesses which have provided services to the reinsurance intermediary market, ERC Frankona Ruckvesicherungs-AG of Munich, Germany and GE Reinsurance Corporation of Lincolnshire, Illinois, will cease writing new or renewal business on July 15, 2000.
Peter Borst will lead the Canadian P&C operation from ERC’s office in Toronto. Borst has been chief agent for ERC in Canada for the past 6 years and is an 18-year ERC veteran. He will lead a staff of.
“Canadian customers now will have a single point of contact for property and casualty risk solutions,” said Borst. “With our financial resources and underwriting expertise, we will make it easier, faster and more flexible for customers.”
-IE Staff