[9] In October 2000, some Wall Street analysts questioned the decline in American International Group (AIG) loss reserves.

[10] In an effort to quell these concerns, AIG entered into two sham reinsurance transactions with Cologne Re Dublin, a subsidiary of General Reinsurance, that had no economic substance but were designed to add $500 million in phony loss reserves to AIG’s balance sheet in the fourth quarter of 2000 and first quarter of 2001.

[11] Cologne Re Dublin's CEO, John Houldsworth, agreed to turn state's witness for the Department of Justice (DOJ) and Securities and Exchange Commission, in agreement for a plea bargain.

Houldsworth then pleaded guilty to conspiring to commit securities fraud, resultantly facing a sentence of up to five years in prison and $250,000 in fines.

[12][13] "In June 2012, the U.S. government agreed to not pursue any further legal action against the former Gen Re executives pursuant to deferred prosecution agreements that have since expired and are no longer in effect.

The lead plaintiffs and Gen Re reached a settlement agreement which the court approved pursuant to a final order entered on September 11, 2013.

[15] In North America, Gen Re also operates in Atlanta, Boston, Chicago, Columbus, Dallas, Hartford, Kansas City, Los Angeles, Montreal, New York, Philadelphia, San Francisco, Seattle, South Portland, St. Paul and Toronto.

Gen Re further operates in Latin America (Mexico City, São Paulo), Europe/Middle East (Cologne, Copenhagen, Dubai, London, Madrid, Milan, Moscow, Paris, Vienna), Africa (Cape Town, Johannesburg), Asia (Beijing, Hong Kong, Mumbai, Seoul, Shanghai, Singapore, Taipei, Tokyo) and Australasia (Auckland, Sydney).