S&P: General Re unchanged

Standard & Poor's said its ratings on General Reinsurance Corp. (AAA/stable) are unaffected by the recent resignation of its chief executive officer, Joseph Brandon.

The agency said that the ratings on the operating companies that constitute the General Re Group are based on General Re's core status to Berkshire Hathaway Inc.

General Re benefits from explicit support provided through a loss portfolio contract and quota share agreement from National Indemnity Co. and Columbia Insurance Co., S&P added.

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