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Our latest coverage
Our latest coverage
The conglomerate’s insurance subsidiaries will have to make do without some of their prior strategic advantages.
The facility is a nudge towards a structural change, not a full-out assault.
Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
At his last annual meeting as CEO, Buffett highlighted the importance of Berkshire’s insurance operations.
The primary and reinsurance unit CoRs were 103.1% and 98.7%, respectively.
The facility provides up to $100mn in claims-made excess casualty coverage.
He will replace Scott Lee, who is retiring after 40 years in claims.
The two internal hires have been with BHSI for around five years.
The appointments cover US casualty, the US Central region and construction.
The executive will continue as head of BHSI’s E&P lines business.
BHSI is dividing its retail general property unit into four regions.
The carrier was seeking to expand its March 1-renewing program.
Berkshire Hathaway’s "float" rose to $171bn in 2024 from $169bn in 2023 as Buffett praised Geico’s Todd Combs.
The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
Sources said Berkshire will move from the largest single capacity provider to a single-digit percentage line size.
The agency affirmed its A+ financial strength rating for the companies.
Mr Cooper Group said it was the target of a 2023 hacking attack.
The conglomerate expects pre-tax losses from Hurricane Milton of between $1.3bn-$1.5bn in Q4.
The panelists discussed the ILS reset and the path to maintaining discipline in this sector.
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