Reinsurance News

Berkshire Hathaway

IAG renews Berkshire Hathaway quota share, but relationship changed

12th January 2023

Australian insurer IAG has announced the renewal of its largest Whole of Account Quota Share (WAQS) agreement, with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway, but there have also been key changes to the terms of the relationship between the companies. For instance, Warren Buffett's company will be free ... Read the full article

Once again, UnitedHealth is the world’s largest insurer ranked by NPW

11th January 2023

Over 12% growth in net premiums written (NPW) in 2021 ensured that UnitedHealth Group Incorporated remains the world's largest insurance company when ranked by NPW, while global insurer Allianz sits atop the table when ranked by non-banking assets. Our directory of the World’s Largest Insurance Companies, which is ... Read the full article

BHSI makes two promotions for its US Executive & Professional Lines Team

30th November 2022

Berkshire Hathaway Specialty Insurance (BHSI) has announced a pair of promotions on its US Executive & Professional Lines team. Shelley Norman has been named Senior Vice President, Management Liability, US, and Jason Preston has been named Senior Vice President, Management Liability, Central Region. Norman, brings more than 25 years of experience towards ... Read the full article

Berkshire Hathaway reports re/insurance underwriting loss amid Hurricane Ian claims of $3.4bn

5th November 2022

Warren Buffett-run holding company and conglomerate, Berkshire Hathaway, has reported pre-tax losses related to Hurricane Ian of $3.4 billion for the third quarter of 2022, as the company's insurance and reinsurance units fell to an underwriting loss of $962 million. The Q3 2022 insurance underwriting loss has widened from the $784 ... Read the full article

Berkshire Hathaway completes Alleghany acquisition

19th October 2022

Berkshire Hathaway has officially announced the completion of its acquisition of Alleghany, having received all regulatory approvals earlier this week. It was first announced in March that Warren Buffett’s insurance and reinsurance firm had reached an agreement to acquire all of Alleghany’s outstanding shares in an $11.6 billion transaction. The deal, ... Read the full article

Berkshire’s acquisition of Alleghany to close this week after receipt of regulatory approvals

17th October 2022

All regulatory approvals relating to the proposed acquisition of Alleghany Corporation by Berkshire Hathaway have now been received. The deal is expected to complete on October 19th, 2022, subject to the satisfaction of customary closing conditions. It was first announced in March that Warren Buffett's insurance and reinsurance firm had ... Read the full article

Berkshire Hathaway GUARD sees reduction in accidents with cars equipped with SDS’ ADAS

1st September 2022

Berkshire Hathaway GUARD Insurance Companies has seen a reduction in accidents with cars equipped with Safe Drive Systems’ (SDS) Active Driver Assistance System (ADAS). SDS’s Active Driver Assistance System, supplemented with SDS Telematics unit, were tested to evaluate whether they reduce the frequency and severity of accidents. The SDS solution includes radar ... Read the full article

Munich Re remains the world’s largest reinsurance company

17th August 2022

After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article

Berkshire Hathaway extends partnership with Zesty.ai

10th August 2022

Berkshire Hathaway Homestate Companies has announced that it has expanded its partnership with Zesty.ai to leverage its AI-powered wildfire risk model, Z-FIRE across 12 states. Z-FIRE is designed to enhance insurers’ risk selection and rate setting while helping them to understand the impact of climate change on wildfires and in turn ... Read the full article

Berkshire (BHSI) hires Jake Hesson to launch commercial hull line in Australasia

8th August 2022

Berkshire Hathaway Specialty Insurance (BHSI) has announced that it has appointed Jake Hesson to the role of Underwriting Manager, Marine for Australasia. The appointment comes as the company has announced that it is expanding into the Commercial Hull segment in Australasia. Hesson brings more than 20 years of experience in the insurance ... Read the full article

Berkshire Hathaway reports strong Q2 2022 P&C reinsurance result

6th August 2022

Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, had another very successful quarter in its P&C reinsurance business in Q2 2022, with the unit driving an improvement in underwriting result across its insurance enterprise. Overall, Berkshire Hathaway delivered a $581 million insurance and reinsurance underwriting result in the second-quarter of ... Read the full article

Top US P&C underwriters saw robust premium growth in 2021

18th July 2022

The top 10 U.S. property & casualty (P&C) underwriters, based on net premiums written, remained unchanged in 2021 when compared with the previous years, while Munich Re Americas moved four places to 15th, making it the highest ranked reinsurer on the list. Our directory of the Top ... Read the full article

BHSI names head of customer & broker engagement in Spain

13th July 2022

Global insurer, Berkshire Hathaway Specialty Insurance (BHSI) has appointed Eduardo Guinea Head of Customer & Broker Engagement in Spain. Joining BHSI as the company continues its European build-out, Guinea brings with him nearly 20 years of industry experience, much of it focused on expanding and building market relationships. He was most recently ... Read the full article

Berkshire Hathaway appoints Danny Engell to Executive Leadership team

12th July 2022

Berkshire Hathaway Homestate Companies' Workers Compensation Division has appointed Danny Engell to the Executive Leadership team as the Senior Vice President, Chief Underwriting and Analytics Officer. Engell will lead the company's strategic underwriting and data analytics efforts in this role, providing innovative expertise and creative solutions to further enhance BHHC’s market ... Read the full article

Alleghany gets stockholder approval for Berkshire takeover

9th June 2022

Alleghany Corporation has received approval from its stockholders for a pending acquisition by Warren Buffett’s insurance and reinsurance firm, Berkshire Hathaway. Stockholders approved transaction terms that value Alleghany at $848.02 per share of common stock in cash, with the deal representing a total equity value of approximately $11.6 billion. All told, ... Read the full article