Reinsurance News

Berkshire Hathaway

Average combined ratio of the world’s top reinsurers declined in 2019

2nd September 2020

Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article

Berkshire Hathaway P&C reinsurance loss driven by Covid-19 & prior year liabilities

9th August 2020

Berkshire Hathaway reported a significant level of losses within its property and casualty reinsurance business for the second-quarter of 2020, as the impacts of the Covid-19 pandemic and negative prior year reserve development on longer-tailed liabilities drove the division to a loss for the period. Overall, Warren Buffett's Berkshire Hathaway reported ... Read the full article

Berkshire Hathaway Specialty launches EIL insurance in France

10th June 2020

Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett's global insurance and reinsurance company, has introduced Environmental Impairment Liability (EIL) Insurance in France. The new policy pairs coverage for multiple environmental risks with technical and legal support to help insureds mitigate environmental incidents and claims. “Our experienced environmental team has ... Read the full article

Berkshire would have written pandemic insurance if people had asked for it: Buffett

4th May 2020

Warren Buffett has said that Berkshire Hathaway would have been willing to write pandemic insurance at the right price if people had asked for the coverage. Speaking during the conglomerate's first-quarter 2020 earnings call, after the firm announced losses within its re/insurance businesses and a huge unrealised investment loss, Chief ... Read the full article

Berkshire Hathaway reports $489m Q1 reinsurance loss, $55.5bn investment loss

2nd May 2020

Warren Buffett's conglomerate Berkshire Hathaway reported first-quarter losses to its primary insurance and reinsurance businesses, in part due to the impacts of the Covid-19 coronavirus pandemic. But the enormous largely unrealised investment loss of $55.5 billion for the first-quarter of 2020 overshadows all else in the Berkshire Hathaway results today. Berkshire Hathaway ... Read the full article

Berkshire Hathaway’s Wellfleet partners with EIS Group on new solution

17th April 2020

Wellfleet, a Berkshire Hathaway insurance company, is partnering with industry technology firm EIS Group on an insurance administration platform designed to meet the evolving demands of the employee benefits market. In the complex voluntary benefits landscape, brokers and their clients commonly work with multiple systems, fighting to integrate with carriers’ patchworked ... Read the full article

Berkshire’s COVID-19 exposure potentially greater but manageable: Analysts

3rd April 2020

Analysts at Morgan Stanley have said that although Berkshire Hathaway could be exposed to losses from the impacts of the global COVID-19 pandemic in a number of business lines, losses should be manageable for Warren Buffett's property and casualty (P&C) reinsurance operation. As events around the world continue to be either ... Read the full article

Berkshire Hathaway’s reinsurance division falls to loss in 2019

22nd February 2020

Berkshire Hathaway's insurance earnings dipped in 2019 as reinsurance related businesses suffered and dragged that segment of the Warren Buffett owned conglomerate to a loss for the year. The Berkshire Hathaway Reinsurance Group fell to an underwriting loss of -$1.472 billion for 2019, worse than 2018's -$1.109 billion. Impacting the insurance and ... Read the full article

Insurtech Bold Penguin in workers comp partnership with Berkshire

29th January 2020

Commercial insurtech provider Bold Penguin has partnered with biBerk, a member of the Berkshire Hathaway Group, to address growing demand for workers compensation coverage. Under the arrangement, agents and brokers using the Bold Penguin platform will now be able to triage, quote, and bind commercial insurance coverage available through an API ... Read the full article

Berkshire Hathaway unit looks to AI with CLARA analytics deal

17th January 2020

Berkshire Hathaway Homestate Companies has selected CLARA analytics, a provider of artificial intelligence technology in the commercial insurance space, as it looks to advance its workers’ compensation claims operations. BHHC will integrate the full suite of CLARA products, including CLARA providers, CLARA litigation and CLARA claims as well as its popular ... Read the full article

President, CEO of Berkshire Hathaway’s GEICO to retire

24th December 2019

GEICO, the auto insurance arm of reinsurance and investments giant Berkshire Hathaway, has announced that its president and Chief Executive Officer, Bill Roberts, will retire in December 2020. Roberts began his career with GEICO in 1984 as an officer in the Marketing department. He will become vice chairman of GEICO effective ... Read the full article

Berkshire (BHSI) names Warrior Head of D&O Liability underwriting, UK & Ireland

26th November 2019

Berkshire Hathaway Specialty Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has hired Chris Warrior as Head of Directors' & Officers' Liability underwriting for UK & Ireland, based in the firm's London office. The appointment expands the company's European team with the addition of Warrior, who brings 36 years of ... Read the full article

Berkshire Hathaway earnings dip offset by P&C reinsurance gains

4th November 2019

Warren Buffett’s property and casualty (P&C) reinsurance businesses at Berkshire Hathaway have reported underwriting earnings of $314 million, helping to offset an overall decline in earnings for the company during the third quarter of 2019. The P&C reinsurance underwriting result was almost five times higher than the $67 million reported in ... Read the full article

Berkshire Hathaway enters casualty & construction markets in France

28th October 2019

Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett’s global insurance and reinsurance company, has commenced underwriting casualty and construction insurance in France. As part of this move, the company also announced the appointments of Olivier Antiphon as Head of Construction and Anne-Sophie Bonifay as Head of Casualty for ... Read the full article

Berkshire (BHSI) enters Australian surety market

21st October 2019

Berkshire Hathaway Speciality Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced its entry into the Australian surety market, and has appointed Jonathan Griffiths as Head of Surety, Australia. Currently, BHSI provides surety products in the U.S., Canada, UK & Europe, and Asia. The new offering in Australia will ... Read the full article