STAMFORD, Conn.--(BUSINESS WIRE)--Gen Re—one of the largest reinsurers worldwide—is opening a branch office for Life/Health reinsurance business in Tokyo, Japan.

The Financial Services Agency granted Gen Re’s operating company KölnischeRückversicherungs-Gesellschaft AG (KR) a license to establish a branch office in Tokyo in December 2009. In accordance with Japanese regulations, KR received a non-life insurance branch license and will restrict its underwriting activities in the local branch office to life reinsurance only, while property/casualty reinsurance will continue to be underwritten by its parent company.

At the opening ceremony, senior managers of the Japanese life insurance industry joined a group of Gen Re senior managers led by Dr. Winfried Heinen, head of Gen Re’s international LifeHealth business and member of the board, at the Imperial Hotel in Tokyo on 26 January 2010. Dr. Heinen commented, “The establishment of a branch office in Japan is testimony of our commitment to one of the largest insurance markets in the world. Our customers will benefit from the new legal status through truly local underwriting support with faster turnaround times.”

Dr. Wolfgang Droste, head of Gen Re’s LifeHealth business in the Asia Pacific region said, “We see significant development potential for our life business in Japan, notably in view of its demographic challenges. The competition amongst life insurers has increased the pressure to develop new product ideas, in particular in the field of living assurance products, such as health-related plans offering long-term value to customers.” He added that “by leveraging Gen Re’s global expertise and by adapting our product and risk management solutions to local environments, clients gain strategic advantages to grow profitably.”

The opening ceremony was preceded by a seminar featuring timely presentations by Dr. Detloff Rump on “Modern Times of Underwriting” and Dr. Dirk Nieder on “Strategic implications of climate change on life insurance companies.”

Gen Re is represented in Asia, one of the most populous and dynamic regions in the world, by offices in India, Hong Kong, China, Singapore, Taiwan, Japan and Korea. General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations. It owns General Reinsurance Corporation, which owns Kölnische Rückversicherungs-Gesellschaft AG (the Cologne Re). Together, General Re and the Cologne Re conduct business as Gen Re. Gen Re is one of the largest reinsurers worldwide. It is represented in all major reinsurance markets through a global network in more than 45 locations, supported by over 1900 employees worldwide.