NJ PURE – a medical malpractice insurer based in New Jersey – has entered a partnership reinsurance contract with General Reinsurance Corporation (Gen Re), a Berkshire Hathaway member company.
A release said that the agreement will strengthen NJ PURE’s position in the industry and will support its growth in the years to come.
“All of our policyholders may now take added comfort in knowing that NJ PURE has the financial support of Gen Re and the billions of dollars in assets behind it,” said NJ Pure principal and chief litigation officer Eric Poe.
Poe added that the primary driver for the agreement was NJ PURE management team’s “long history of successful insurance operations in New Jersey.” He also mentioned the firm’s reputation as a physician advocate and its record of fighting against medical malpractice cases as factors in forming this partnership.
“By backing NJ PURE up to 70% of our future exposures up to our policy limits, we believe Gen Re’s commitment to us is a testament to our long-term business model and its viability into the future,” the principal remarked.
Gen Re has an A++ (Superior) rating from AM Best and has more than $17.75 billion in assets.
