Berkshire Hathaway
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The policy includes a $200mn limit with an additional $100mn for side A coverage. -
The company announced several moves Monday, including the promotion of Nancy Pierce to Geico CEO.
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The CEO thanked his friends and colleagues and said he was “going quiet”.
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Both the primary and reinsurance segments benefitted from a light cat year.
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The executive will initially focus on casualty fac business incoming as the result of the Markel renewal rights deal.
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The program, expected to start doing business next month, will be wholesale-only.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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The company has also appointed David Tran as head of programs, Canada.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The former Corvus president will report to Ajit Jain.
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The company also encouraged insurers and brokers to support the initiative.
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Underhill spent nine years at BHSI as global head of transactional liability.
