Reinsurance News
Berkshire Hathaway
Berkshire Hathaway exits India’s Paytm with $164mn sale
24th November 2023
Berkshire Hathaway, the Warren Buffett-run holding company, has exited India’s Paytm by selling its 2.5% stake in the digital payments service provider via a bulk deal on Friday. The company sold its entire stake in the digital payments firm for about 13.71 billion rupees ($164.70 million), as first reported by Reuters. According ... Read the full article
Berkshire Hathaway reports strong underwriting performance across insurance & reinsurance
4th November 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong underwriting performance in its property and casualty (P&C) reinsurance business for the third quarter and first nine months of 2023, as premium growth continued. In both periods, all of Berkshire's insurance operations produced an improved underwriting result when ... Read the full article
BHSI appoints Edwin Sim as VP & Head of Executive & Professional Lines, Singapore
6th September 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Edwin Sim as the Vice President (VP) and Head of Executive & Professional Lines in Singapore. Sim is a market veteran with over 25 years of industry experience with a focus on financial lines. He joined BHSI in 2017 as Assistant Vice ... Read the full article
Munich Re ranked largest reinsurer for third year running by AM Best
22nd August 2023
After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article
Berkshire Hathaway P&C reinsurance growth continues as underwriting improves in Q2 2023
5th August 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a rise in premiums written within its property and casualty (P&C) reinsurance business in both the second quarter and half year of 2023, while the segment produced a solid combined ratio despite a rise in losses and loss adjustment ... Read the full article
Berkshire gets giant $1bn share of Florida Citizens reinsurance renewal
11th July 2023
Florida’s Citizens Property Insurance Corporation has completed the placement of its 2023 risk transfer program, securing just over $2.98 billion of protection from a mix of traditional and collateralised reinsurers for its Coastal and Personal Lines (PLA) accounts, of which more than $1 billion was secured from Berkshire Hathaway. As well ... Read the full article
Senate Budget Committee launches investigation into insurance companies’ climate risk evaluation, fossil fuel support
12th June 2023
The Senate Budget Committee, led by Senator Whitehouse (D-RI), alongside Senators Wyden (D-OR) and Sanders (I-VT), initiated an investigation into the evaluation of climate-related risks by major U.S. insurance companies. The committee seeks to understand why these companies continue to support and underwrite fossil fuel expansion projects that contribute to climate ... Read the full article
Berkshire Hathaway’s property cat exposure up 50% following “attractive” April 1
9th May 2023
Ajit Jain, Vice Chairman of Insurance Operations at Berkshire Hathaway, has suggested that the firm's property cat exposure is almost 50% more than it was half a year ago, adding, "We have written as much as our capacity will allow us to write," amid "attractive" April 1 prices. Jain said, "The ... Read the full article
Berkshire Hathaway P&C reinsurance premiums soar 30% in Q1 2023
6th May 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong quarter of growth for its property and casualty (P&C) reinsurance operations, with premiums written rising by 30% in the period, with the inclusion of TransRe a significant driver of that growth. However, at the same time, Berkshire Hathaway's ... Read the full article
Berkshire (BHSI) hires three people in Germany in claims leadership positions
25th April 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of three executives to claims leadership roles in Germany. Sandra Leyendecker has been promoted to Head of Casualty Claims. She joined BHSI in 2022 as Senior Casualty Claims Examiner. Leyendecker is a market veteran with more than ... Read the full article
Berkshire (BHSI) promotes Ruddlesdin to Head of Professional Indemnity & Cyber, UK
20th March 2023
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Ben Ruddlesdin to Head of Professional Indemnity & Cyber (UK), where he will continue to be based in London. In his most recent role at the firm, Ruddlesdin served as Senior Underwriter, PI & Cyber. Overall, he brings nearly 10 years of industry experience towards ... Read the full article
Berkshire Hathaway reports underwriting loss for 2022 but reinsurance result improves
25th February 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported an underwriting profit of $244 million across its insurance and reinsurance operations for the fourth quarter of 2022, although for the full year 2022, insurance underwriting generated a loss of $90 million. The after-tax loss for the year compares with an ... Read the full article
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