Reinsurance News

Berkshire Hathaway

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

Berkshire (BHSI) opens office in Lyon, France

6th June 2022

Global insurer, Berkshire Hathaway Specialty Insurance (BHSI) has opened an office in Lyon, France. The opening of the new office helps the company to further expand its presence in Europe. "As we continue to grow steadily across Europe, the time is right to expand with an office and expanded team in Lyon,” ... Read the full article

Buffett’s Berkshire takes $620m stake in Markel

17th May 2022

Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, took a $620 million stake in insurance and reinsurance provider Markel Corporation as part of a raft of investments during the first quarter of 2022. Analysts at KBW estimate that the value of Berkshire's equity portfolio has fallen by about $39.0 billion ... Read the full article

Berkshire Hathaway P&C reinsurance profit soars in Q1 2022

30th April 2022

Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, had a particularly good first-quarter of 2022 in its property and casualty reinsurance business, with earnings up significantly year-on-year. In fact, the profits reported for Q1 2022 more than offset some of the loss-making other areas of Berkshire Hathaway's insurance and reinsurance ... Read the full article

Berskhire (BHSI) names Kathy Reid Head of Casualty, North America

29th April 2022

Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett's global insurance and reinsurance company, has announced the promotion of Kathy Reid to Head of Casualty, North America. Within her new role, Reid brings more than 25 years of insurance industry experience. She has served as Senior Vice President at BHSI ... Read the full article

Alleghany confirms end of “go-shop” period under Berkshire merger agreement

19th April 2022

The "go-shop" period under the merger agreement between Alleghany Corporation and Berkshire Hathaway has now ended, meaning the former is now bound by customary "no-shop" restrictions under the definitive merger agreement. Under the terms of the arrangement, Alleghany and its representatives were allowed to solicit and consider alternative acquisition proposals from ... Read the full article

Alleghany asked Buffett for more, considered break-up of business units

12th April 2022

Alleghany Corporation had sought to counter Warren Buffett's acquisition offer during negotiations, seeking more than the initial $850 per share price. A proxy filing deposited with the SEC also reveals that Alleghany explored the potential break-up of its business units, to identify whether a potential sale or spin-out of one or ... Read the full article