1926-27 ERC sells its Casualty and Direct Accident and Health businesses, along with renewals and agency plants, to concentrate on reinsurance.
1928 Employers Indemnity Corporation becomes Employers Reinsurance Corporation. 1931 ERC opens its first branch office in Chicago, IL.
1936 ERC opens its New York branch office.
1937 ERC is licensed in every state, as well as in the Canadian provinces of Ontario and Quebec.
1938 ERC has capital and surplus of $4 million, assets of $16 million and written premiums approaching $7 million. Upon his retirement, Mr. Trimble is characterized by one insurance editor as "an idealist and an organizer." 1938 President Howard Flagg leads a growth phase at the company. He is characterized as an outstanding producer of reinsurance business.
1943 President J. Breathitt Robertson culminates his 31-year career with the company as president and CEO. He is known as a "thorough student of insurance and insurance law" and as "a progressive administrator." During his tenure, ERC enters property insurance and assists in bringing about increases in rates in excess limits tables, which benefit the entire industry.
1952 When Frank P. Proper takes the helm as president, the Korean War is on and liability claims are soaring. With prompt and decisive action, underwriters are sent out to seek retentions and rates from policyholders. Although the company loses a number of policies, it retains enough to maintain a position in the industry. During Mr. Proper's 13-year tenure as president, the company earns a reputation for being a profitable and conservative organization.
1954 ERC is the first company to introduce reinsurance for Substandard Accident and Sickness business. ERC President Stanford Miller spends more than 30 years with the company. Under his guidance, the company places greater emphasis on underwriting technology. Through decades of growth and acquisitions, the company successfully insures and reinsures virtually every form of insurance. Mr. Miller gives particular interest to continuing education for all employees, adopting the theme "The Pursuit of Excellence."
1967 The company opens its first overseas office in Zurich, Switzerland, formally organizing its International department. 1969 ERC's first Canadian offices open in Toronto and Montreal.
1978 Clyde F. DeWitt succeeded Stanford Miller as president of ERC. 1980 ERC was purchased by Getty Oil. That same year, the company moves its corporate headquarters from Kansas City, MO, to suburban Overland Park, KS.
1980 President and CEO Michael G. Fitt leads ERC through the 1980s. A native of the UK, Mr. Fitt began his career with ERC in 1969 as manager of ERC Canadian operations when the company expanded its business into that country. He moved to the corporate headquarters in Overland Park, KS, in 1980. Mr. Fitt leads the company through mergers with Getty Oil and General Electric.
1984 In February, Getty Oil is purchased by Texaco. In July, ERC is purchased by GE. 1986 Employers Reassurance Corporation commences its life reinsurance business from its Overland Park, KS, office.
1987 ERC acquires Nordisk Re. During the celebration of its centennial in 1994, Nordisk Re changes its name to Employers Reinsurance International.
1988 Employers Reinsurance Limited (UK) assumes the underwriting of ERC's European business, formerly underwritten by the Zurich branch office. The following year, the ERC Limited Holding Company is incorporated and offices open in Madrid, Spain and Munich, Germany.
1989 In November, First Specialty Insurance Corporation is established as an ERC subsidiary providing excess and surplus lines of coverage. 1991 Thomas S. Case is president and chief executive officer of ERC.
1993 Kaj Ahlmann takes the helm at ERC as president and CEO. The native of Denmark joined the company in 1988 through its acquisition of Nordisk Re and became head of its European operations in 1990. During his tenure, the company expands through its strategy of "globalization by localization."
1994 ERC's parent company, GE, becomes the first Fortune 500 company outside the computer industry to go online. Two years later, the company's comprehensive website GE.com is launched.
1995 ERC acquires Frankona Reinsurance Company and Aachen Reinsurance. GE introduces its Six Sigma vision of quality, a disciplined process that helps the company work with customers to develop and deliver near-perfect products and services. ERC is named Reinsurance Company of the Year by The Review magazine.
1997 ERC acquires Coregis Professional Liability and Property/Casualty business, expanding its Commercial Insurance business with attorneys and other niche groups.
1998 During this year of active growth, ERC establishes itself in the Canadian market and acquires Industrial Risk Insurers, The Medical Protective Company (the oldest and highest ranked professional liability carrier in the country), Kemper Re and Eagle Star Re. Additionally, ERC launches HERCULES, a integrated package of employment practices liability, fiduciary liability and healthcare professional liability coverage to meet the needs of hospitals and other healthcare institutions.
1999 David L. Calhoun is named president and CEO of ERC, invigorating the GE culture at the company. Analysts describe ERC as one of the most profitable reinsurers in the global reinsurance market. It is ranked among the five largest reinsurers in the world. ERC's life operations are licensed to operate in Canada as Employers Reassurance Canada Management Services, Inc.
