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.
BHSI promotes Theresa Biedermann to SVP, E&P Lines Claims
6th September 2024
Property and casualty insurer, Berkshire Hathaway Specialty Insurance (BHSI), has announced the promotion of Theresa Biedermann to Senior Vice President (SVP), Head of Commercial Lines (Public) and Financial Institutions Claims for Executive & Professional (E&P) Lines Claims in the US. Robert Romeo, Head of Claims, North America at BHSI, commented, “All ... Read the full article
Munich Re & Swiss Re remain the world’s largest reinsurers
3rd September 2024
Reinsurance giant's Munich Re and Swiss Re remain the two largest global reinsurers across the globe according to data from ratings agency AM Best. In prior years, the agency ranked the top 50 global reinsurers in a single list, but now, with the adoption of IFRS 17, the ... Read the full article
Berkshire Hathaway’s re/insurance businesses deliver $2.3bn net underwriting result for Q2’24
4th August 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has achieved an 82% year-on-year rise in net underwriting earnings across its insurance and reinsurance businesses for the second quarter of 2024, as the firm's property and casualty (P&C) reinsurance operation again generated more than $1 billion in underwriting profit. Within P&C ... Read the full article
Berkshire Hathaway absent, Bermuda & collateralised reinsurers dominate Florida Citizens renewal
23rd July 2024
After taking a $1 billion slice in 2023, it's notable that Berkshire Hathaway did not participate in Florida Citizens Property Insurance Corporation's 2024 catastrophe reinsurance renewal, which was dominated by Bermuda-based and collateralised reinsurers. As we reported previously, Florida’s property insurer of last resort secured a cost-effective risk transfer program ... Read the full article
Jesús Barbero named BHSI Head of Surety in Spain
22nd July 2024
Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett's global re/insurance company, has entered the surety market in Spain. Jesús Barbero is to lead the new product line. Constanza Gállegos, Country Manager, BHSI in Spain, stated: "We are excited to lead BHSI’s entry into the European surety market. “By ... Read the full article
IAG reduces earnings volatility with long-term reinsurance agreements
28th June 2024
IAG has purchased reinsurance protection to mitigate natural perils volatility for the next five years, alongside securing adverse development cover for its long-tail reserves from Enstar. IAG has entered into a comprehensive five-year natural perils reinsurance agreement starting from July 2024 with National Indemnity Company, a subsidiary of Berkshire Hathaway Inc ... Read the full article
Berkshire Hathaway P&C reinsurance underwriting profit surpasses $1bn in Q1 2024
4th May 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has surpassed $1 billion in underwriting earnings in its property and casualty (P&C) reinsurance operations during the first-quarter of 2024, up almost 160% year-on-year. With P&C reinsurance premiums written rising by nearly 3%, to $6.455 billion for the three month period, driven ... Read the full article
Berkshire (BHSI) appoints Louis du Ché as Country Manager, France
17th April 2024
Berkshire Hathaway Specialty Insurance (BHSI) has recently appointed Louis du Ché to the additional role of Country Manager for France, alongside his current position as Country Manager, Belgium. Alessandro Cerase, Head of Europe at BHSI, remarks, “Louis has been instrumental in establishing our stellar team and growing our presence in Belgium.” Cerase ... Read the full article
Berkshire (BHSI) promotes Ingo Lorber to Head of Claims, DACH
5th April 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the promotion of Ingo Lorber to Head of Claims for Germany, Austria, and Switzerland (DACH). Andreas Krause, Head of DACH at BHSI, emphasises the company's dedication to providing outstanding service, stating, “BHSI’s commitment to consistently excellent service and doing the right thing for our ... Read the full article
Berkshire Hathaway’s re/insurance businesses generate $5.4bn underwriting gain in 2023
25th February 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023 compared with a loss a year earlier. The positive return of $5.4 billion compares with a loss of $30 million in 2022 and a gain ... Read the full article
Frankland’s appointment as Faraday Non-Exec Director to support strategic growth
8th February 2024
Faraday Underwriting Limited (FUL), part of the General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway, has appointed Nick Frankland as Non-Executive Director, effective from February 1, 2024. The executive will also succeed Martin Pike as Non-Executive Chair in May following his retirement. Pike has been an integral part of ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
