(Bloomberg) — Gen Re, the unit of Warren Buffett’s Berkshire Hathaway Inc. that appointed a new chief executive officer in May, struck a deal with a rival reinsurer to help revive sales.

Alleghany Corp.’s TransRe will share revenue and risks on property-casualty reinsurance business that it underwrites through brokers and intermediaries for the next five years, the companies said July 5 in a statement. Gen Re’s commitment will help TransRe double the risks that it takes on for clients, TransRe said in a separate document listing facts about the deal.

Gen Re CEO Kara Raiguel is seeking new sources of premium revenue after being named to take over for Franklin “Tad” Montross. The business has been known for so-called direct reinsurance deals, in which customers transfer risk without the involvement of brokers.

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