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Berkshire Hathaway

BHSI adds reinstatement clause to professional liability product

13th August 2019

Berkshire Hathaway Specialty Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced that it has enhanced its Asia Executive First Directors & Officers (D&O) Liability Insurance to include a provision that reinstates policy limits exhausted by an entity or by individual needs. The reinstatement provision is automatic and is ... Read the full article

Berkshire Hathaway reports reinsurance underwriting loss & creep

5th August 2019

Warren Buffett’s property and casualty reinsurance businesses at Berkshire Hathaway have been hit by loss creep from prior year events, which have dented the quarter and half-year, lowering revenues for the unit by almost half. After a first-quarter of 2019 when Berkshire Hathaway suffered from technical losses on the underwriting ... Read the full article

Berkshire Hathaway’s GEICO launches first telematics program

31st July 2019

GEICO, the auto insurance arm of reinsurance and investments giant Berkshire Hathaway, has launched and is trialling its first telematics product, named DriveEasy. The push into telematics based solutions to provide analytics and intelligence on driver performance has likely been driven by a desire to reign in claims costs, while charging ... Read the full article

Berkshire Hathaway suffers Q1 underwriting losses again

4th May 2019

For the second consecutive year, Warren Buffett's reinsurance businesses at Berkshire Hathaway have suffered an underwriting loss for the first-quarter, but the overall performance of the re/insurance segment of the conglomerate rose thanks to investment returns. For Q1 2019, Berkshire Hathaway's re/insurance underwriting income was $389 million, down on the prior ... Read the full article

Hartford buying ADC for Navigators from Berkshire Hathaway

2nd May 2019

The Hartford has announced that it plans to buy $300 million of adverse development cover (ADC) from Berkshire Hathaway to protect it against unfavourable loss reserve movement at The Navigators Group, which The Hartford is in the process of acquiring. Subject to the closing of its acquisition this summer, The Hartford ... Read the full article

Harwood to lead BHSI’s Transactional Liability offering across Asia, Middle East

8th April 2019

Berkshire Hathaway Specialty Insurance Company (BHSI) is now offering Transactional Liability Insurance coverage across its Asia and Middle East (AME) regions, and has appointed Steven Harwood to lead the offering. As Head of Transactional Liability in AME, Harwood will be based in BHSI's Hong Kong office. He joins the firm from Pembroke Managing Agency ... Read the full article

Berkshire Hathaway GUARD partners with AI platform Planck

7th March 2019

Berkshire Hathaway GUARD Insurance Companies, a U.S subsidiary of Warren Buffett’s global re/insurance company, is partnering with Artificial Intelligence (AI) data platform Planck in an effort to optimise underwriting processes for its small and medium business segment. It’s hoped the insights provided by Planck will allow GUARD’s underwriters to focus on ... Read the full article

Berkshire Hathaway’s Dublin unit granted approval ahead of Brexit

6th March 2019

Berkshire Hathaway Insurance Group has announced that its new Irish subsidiary, Berkshire Hathaway European Insurance DAC (BHEI), has been granted a Certificate of Authorisation by the Central Bank of Ireland to operate as an insurer in Ireland and the European Economic Area (EEA). Based in Dublin, BHEI will operate as a ... Read the full article

Berkshire Hathaway GUARD to launch new Commercial Package product

27th February 2019

Berkshire Hathaway GUARD Insurance Companies, a U.S subsidiary of Warren Buffett’s global insurance and reinsurance company, is adding a Commercial Package product that will include coverages for Property, General Liability, Umbrella, and Employment-Related Practices Liability Insurance (EPLI). GUARD Chief Executive Officer (CEO) Sy Foguel explained that the company is planning for ... Read the full article

Berkshire Hathaway’s primary gains offset reinsurance underwriting loss in 2018

23rd February 2019

Berkshire Hathaway reported an underwriting loss for its reinsurance businesses in 2018, but this was more than offset by strong gains in the primary insurance and GEICO businesses. Reporting its annual results today, Warren Buffett's insurance and reinsurance businesses clearly saw mixed fortunes in 2018, with catastrophe losses denting the fourth-quarter ... Read the full article

Berkshire Hathaway expected to report elevated combined ratios

22nd February 2019

Warren Buffett's insurance and reinsurance divisions of Berkshire Hathaway are expected to report elevated combined ratios in the firm's annual results this week, with catastrophes, attritional weather claims and adverse development of longer-tailed liabilities all expected to have dented its performance. Berkshire Hathaway is scheduled to report its annual results on ... Read the full article

Berkshire Hathaway to launch three-page insurance product for small businesses

11th February 2019

The Insurance Group of Warren Buffett's conglomerate Berkshire Hathaway has announced the launch of a concise and comprehensive three-page insurance product for small businesses called THREE. The company hopes to cut down the lengthy and time-consuming processes currently required for a small U.S business to secure the necessary cover. THREE provides insurance ... Read the full article

Berkshire Hathaway, Chinese insurers climb “World’s Largest” ranking

8th January 2019

The insurance operations of Warren Buffett's conglomerate Berkshire Hathaway Inc. and China's largest insurance companies are the biggest climbers in A.M. Best's ranking of the World's Largest Insurers. The ranking of the world's largest insurance companies is available to view here on Reinsurance News, in collaboration with A.M. ... Read the full article

Berkshire Hathaway withdraws from Hong Kong terrorism pool

11th December 2018

Berkshire Hathaway Specialty Insurance Company (BHSI) announced that it has withdrawn from the Hong Kong Employees’ Compensation (EC) terrorism pool effective 1 December 2018. Instead, BHSI will now offer terrorism coverage to customers directly, making them the first insurer to do so. This decision benefits all BHSI’s new and existing EC customers ... Read the full article

Berkshire Hathaway’s underwriting profits rise on fewer catastrophe losses

5th November 2018

The insurance and reinsurance units of Warren Buffett’s Berkshire Hathaway have experienced a strong bounce back from the major catastrophe losses of the prior year, delivering almost $1.8 billion of underwriting profit for the first nine-months of 2018. Berkshire Hathaway has reported a $441 million underwriting profit for Q3 2018, a ... Read the full article

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