Violation Tracker Individual Record

Company: 
General Reinsurance Corporation
Current Parent Company: 
Berkshire Hathaway
Penalty: 
$72,000,000
Year: 
2009
Date: 
February 25, 2009
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

In a case brought by the Ohio AG on behalf of three state pension funds and other investors, General Re agreed to pay $72 million to resolve allegations that the company participated in a fraudulent reinsurance transaction with American International Group, harming stockholders.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Ohio Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Ohio
HQ Country of Parent: 
USA
HQ State of Parent: 
Nebraska
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.