General Reinsurance Corp. said in a filing that it briefed the Securities and Exchange Commission in June concerning its involvement with nontraditional insurance arrangements that have come under continuing scrutiny.
In a report to the Connecticut Insurance Department, Gen Re, a subsidiary of Omaha, Neb.-based Berkshire Hathaway, said the SEC is investigating transactions involving Prudential, The St. Paul Companies and municipal bond transactions that involved Gen Re financial products and certain insurance and affiliated companies of American International Group.
While not giving specific dates, the filing appears to indicate that the transactions in question took place prior to Prudential's sale of its property-casualty business in 2003 and St. Paul's merger with Travelers in 2004.
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