General and Cologne Re Expand Commitment to China; Open Shanghai Office STAMFORD, Conn., Jan. 22 /PRNewswire-AsiaNet/ -- General Re Corporation (NYSE: GRN), with its affiliate, Cologne Re, announces that they have established representative offices in China to serve the growing needs of Chinese insurers, as well as international clients doing business in China. They also announce the official opening of the Shanghai Advanced Insurance Training and Information Center, which will provide advanced training for senior and middle level insurance professionals. Ronald E. Ferguson, Chairman and Chief Executive Officer of General Re Corporation, said, "The opening of our office, and of the training center is a milestone marking progress in our commitment to the market in China." The representative office is headed by Professor Wang Xi, a professor at Fudan University, and holder of an MBA degree from Wharton. The office will be staffed with both Chinese nationals and representatives from General Re and Cologne Re. General Re and Cologne Re are the first reinsurers in the world to receive a license to open a representative office in Shanghai. Previously, the company had assisted in developing and establishing educational and correspondent programs, both in the United States and China, which provided government officials and local insurers with a model framework for the reinsurance market. General Re, with Cologne Re, also announced the establishment of the Shanghai Advanced Training & Information Center, located at the Shanghai Institute of Business Administration. The first training program that will be offered by the Center is a six month module for senior and middle level insurance executives. The courses in this program cover all aspects of insurance and finance. At the Center, a reading room and technology center allow students to communicate and transfer information electronically worldwide. The Center's other cosponsors are The Shanghai Insurance Institute, The Shanghai Insurance Association, and Shanghai Institute of Business Administration. This initiative is in addition to General Re's ongoing professional exchange program, which over the last two years has hosted ten executives from China at the Company's headquarters in Stamford, Connecticut. The company also sponsors and hosts, jointly with local insurance companies, an extensive program of insurance seminars in China. Seven seminars have been held to date, covering topics which range from Social Insurance to Property Catastrophe Issues. During 1997, the company will significantly expand its presence in Hong Kong, which will enable it to better serve the Asian market. Commenting on General and Cologne Re's presence in China, Vice Mayor Meng Jianzhu of Shanghai said, "We welcome the prestigious company, General Re and Cologne Re opening its Representative Offices in Shanghai. China's insurance industry is in its beginning stages. Its development calls for close cooperation with foreign insurance companies." "The Chinese have approached the insurance and reinsurance market with care and deliberation, creating a partnership environment under which these markets can flourish," said Theron S. Hoffman, the General Re Senior Vice President who has led the Company's initiatives with China. "China is committed to creating a sophisticated, diversified, and vibrant insurance market that will serve the country well into the next century. General Re and Cologne Re desire to operate as local companies in China, contributing to the development of the Chinese insurance market with a full commitment of our resources and experience," Mr. Hoffman concluded. General Re Corporation is a holding company for global reinsurance and related risk assessment, risk transfer and risk management operations. It owns General Reinsurance Corporation and National Reinsurance Corporation,the largest professional property/casualty reinsurance group domiciled in the United States, and also holds a controlling interest in Kolnische Ruckversicherungs-Gesellschaft AG (Cologne Re), a major international reinsurer. In addition, General Re writes excess and surplus lines insurance through General Star Management, provides alternative risk solutions through Genesis Underwriting Management, and provides reinsurance brokerage services through Herbert Clough, Inc. It also operates as a dealer in the swap and derivatives market through General Re Financial Products Corporation, and provides investment services through General Re-New England Asset Management, Inc. SOURCE General Re Corporation CONTACT: Katherine E. Stallfort, 203-328-5780; or Deborah C. Nelson, 203-328-6448, both of General Re Corporation