Reinsurance News
Berkshire Hathaway
Berkshire Hathaway is an American multinational conglomerate holding company, famous for its diverse portfolio of wholly-owned businesses. This page contains news about Berkshire Hathway’s insurance and reinsurance businesses, as well as its financial reporting.
Within that, Berkshire Hathaway has a meaningful insurance and reinsurance operation and under the watch of Warren Buffett this has grown into one of the most meaningful players in the global reinsurance market.
Berkshire Hathaway Reinsurance Group encompasses GenRe, TransRe and its life reinsurance operations.
Given its size and breadth of operations, Berkshire Hathaway has famously used the insurance premium float generated by its primary and reinsurance operations to fuel its enormous investment firepower.
With such diversification and depth of capital across its business, Berkshire Hathaway is know for being strategic and tactical in how it underwrites reinsurance business, growing and shrinking its capital deployments into the sector depending on its view of price adequacy and relative value compared to its other opportunities.
Re/insurance set for lower returns as higher-yielding assets mature: Warren Buffett
27th February 2017
Warren Buffett’s annual letter to the shareholders of Berkshire Hathaway is always peppered with insights, and this years edition was no different. Buffett pointed out a number of interesting trends affecting the reinsurance industry today and even made the odd forecast for the future. One of his forecasts was something he has ... Read the full article
Rise in large industrial claims driving reserve surprises, suggests J.P. Morgan
17th February 2017
Following AIG's recently announced $2.79 billion Q4 loss as a result of a $5.6 billion reserve charge, analysts at J.P. Morgan have suggested that the negative surprise, which is unlikely to be exclusive to AIG, could be the result of increased large industrial claims, particularly in the U.S. AIG's fourth-quarter 2016 ... Read the full article
AIG reserve charge to be offset by NICO adverse development reinsurance
14th February 2017
Insurer AIG has reported its latest set of results and a significant loss, largely due to adverse reserve developments, demonstrates the importance of the recently completed retroactive adverse development reinsurance agreement between Warren Buffett's Berkshire Hathaway and the firm. American International Group (AIG) reported yet another quarterly loss, as the ... Read the full article
Berkshire Hathaway Specialty opens London office, expands exec team
8th February 2017
Berkshire Hathaway (BHSI) today announced the creation of a new affiliate London office, its key executive roles have already been filled with industry experts joining from Allied World, Travelers Europe and AIG. The new office will serve brokers and customers in the UK and Southern European countries, including Ireland, Spain, France ... Read the full article
AIG deal the first big enough to risk Berkshire underwriting profit: Credit Suisse
24th January 2017
The recently announced retroactive adverse development reinsurance agreement between Warren Buffett's Berkshire Hathaway and AIG is the first deal big enough to jeopardise an underwriting profit in Berkshire's P&C business, according to analysts at Credit Suisse. The deal announced last week sees Berkshire Hathaway subsidiary National Indemnity Company (NICO) providing ... Read the full article
AIG gets adverse development reinsurance from Berkshire Hathaway
20th January 2017
American International Group, Inc. (AIG) has entered into a $9.8 billion adverse development reinsurance agreement with Berkshire Hathaway subsidiary, National Indemnity Company (NICO), effective January 1st, 2016. The $9.8 billion transaction covers 80% of substantially all of AIG's U.S. commercial long-tail exposures for accident years 2015 and prior, and this includes the ... Read the full article
Berkshire Hathaway gains reinsurance license for Malaysia market
17th January 2017
Warren Buffett's Berkshire Hathaway is set to enter the Malaysian reinsurance market, having received a license from Labuan FSA to provide non-life products in the country, through its Berkshire Hathaway Specialty Insurance Company (BHSI) arm. Berkshire Hathaway has been expanding steadily into Asian and Pacific insurance and reinsurance markets, as the ... Read the full article
Berkshire Hathaway in $1.5bn reinsurance agreement with The Hartford
3rd January 2017
Warren Buffett’s National Indemnity Company (NICO), a Berkshire Hathaway Inc subsidiary, has entered into a $1.5 billion aggregate excess of loss reinsurance agreement with The Hartford. With a reinsurance premium set at $650 million, the agreement will provide $1.5 billion of reinsurance covering adverse net loss reserve development on ... Read the full article
Buffett targets Japan earthquake re/insurance with Berkshire Hathaway
27th December 2016
Warren Buffett is targeting a move into Japanese earthquake reinsurance through his Berkshire Hathaway Specialty Insurance unit, according to a report. The Nikkei reported that Berkshire Hathaway Specialty Insurance is set to move into Japanese earthquake reinsurance, by backing Japanese insurers, citing Marc Breuil, Regional President Asia at BHSI. Buffett's Berkshire ... Read the full article
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