Buffett's Gen Re Shuts Operations in Hong Kong, Melbourne

  • Four offices in U.S., Latvia also to close after global review
  • Reinsurer's property-casualty policy sales dropped in 2015

Gen Re, one of the giant reinsurance businesses at Warren Buffett’s Berkshire Hathaway Inc., said it’s exiting property-casualty operations at six smaller locations amid a global reorganization.

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