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EXHIBIT 11
GENERAL RE CORPORATION
COMPUTATION OF EARNINGS PER COMMON SHARE
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YEARS ENDED DECEMBER 31
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1994 1993 1992
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Net income applicable to common stock (in millions)(a)..... $ 654 $ 700 $ 646
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Average number of common shares outstanding (b)............ 82,071,651 84,542,686 85,667,413
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Net income per share....................................... $ 7.97 $ 8.28 $ 7.55
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(a) After deduction of preferred stock dividends of $11 million for the years
ended December 31, 1994, 1993 and 1992.
(b) Fully diluted earnings per share are not reported because the effect of
potentially dilutive securities was not significant.