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Our latest coverage
Our latest coverage
The program, expected to start doing business next month, will be wholesale-only.
The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
The company has also appointed David Tran as head of programs, Canada.
The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
The former Corvus president will report to Ajit Jain.
The company also encouraged insurers and brokers to support the initiative.
Underhill spent nine years at BHSI as global head of transactional liability.
Unpacking how much excess capital there really is and dissecting the source of its returns.
Michael Brooks, SVP, head of transactional liability, will be taking over temporarily.
The take-up rate will depend on the price discount and market segment.
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.
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