Reinsurance News

Berkshire Hathaway

Berkshire Hathaway’s underwriting profits rise on fewer catastrophe losses

5th November 2018

The insurance and reinsurance units of Warren Buffett’s Berkshire Hathaway have experienced a strong bounce back from the major catastrophe losses of the prior year, delivering almost $1.8 billion of underwriting profit for the first nine-months of 2018. Berkshire Hathaway has reported a $441 million underwriting profit for Q3 2018, a ... Read the full article

Berkshire Hathaway pegs hurricane Michael loss at up to $550m

4th November 2018

In announcing its latest quarterly results this weekend, Berkshire Hathaway, the Warren Buffett owned giant conglomerate, said that its insurance and reinsurance businesses expect up to $550 million of catastrophe losses from hurricane Michael. Hurricane Michael struck the Florida Panhandle a deadly blow on October 10th, coming ashore as a major ... Read the full article

Berkshire Hathaway’s insurance units outlook returns to stable: S&P

28th September 2018

S&P Global Ratings has revised its outlook of the operating insurance subsidiaries of Warren Buffett's Berkshire Hathaway from negative to stable, due to improved capitalisation. The revision incorporates S&P’s view that Hathaway’s insurance subsidiaries will maintain combined capital adequacy that is redundant at the AA confidence level on a prospective basis, ... Read the full article

Berkshire Hathaway Specialty Insurance bolsters Dubai leadership

20th September 2018

The insurance arm of Warren Buffett's global insurance and reinsurance company, Berkshire Hathaway Specialty Insurance Company (BHSI), continues to expand its leadership team in Dubai with the announcement of numerous executive appointments. The company announced earlier this year that it had received its license from the Dubai Financial Services Authority ... Read the full article

Berkshire Hathaway’s re/insurance underwriting & investment drive strong Q2

6th August 2018

The insurance and reinsurance businesses at Warren Buffett’s Berkshire Hathaway recorded strong earnings for the second-quarter of 2018, as both underwriting revenues and investment income beat the prior year. Berkshire Hathaway reported $943 million of underwriting profit after tax for Q2 2018, up from a loss of -$22 million in the ... Read the full article

Amazon, Berkshire Hathaway, JPMorgan name CEO of new healthcare company

21st June 2018

Amazon, Berkshire Hathaway and JPMorgan Chase have appointed Dr. Atul Gawande as Chief Executive Officer (CEO) of the trio’s non-profit, U.S. employee healthcare partnership. The role, effective July 9, will see Gawande serve from the new company’s headquarters in Boston. Warren Buffett, Jeff Bezos and Jamie Dimon - CEOs of Berkshire ... Read the full article

Global reinsurer rankings volatile, Berkshire Hathaway breaks into top 3: S&P

30th May 2018

S&P Global has reported that the rankings of the largest global reinsurers could be subject to volatility, as Warren Buffett’s Berkshire Hathaway was propelled into the top 3 last year following the $10.2 billion premium it collected from its adverse development deal with AIG. Further disruption could be caused by ... Read the full article

Berkshire Hathaway underwriting & investment profit both up in Q1

7th May 2018

Warren Buffett's insurance and reinsurance businesses at Berkshire Hathaway recorded positive performance for the first-quarter of 2018, with both underwriting and investment sides of the business delivering higher profits. Berkshire Hathaway reported $407 million of underwriting profit for Q1 2018, up from a loss of -$267 million in the prior year. On ... Read the full article

Berkshire Hathaway won’t be a pioneer in cyber insurance: Warren Buffett

5th May 2018

Speaking at the annual shareholders meeting of his conglomerate Berkshire Hathaway Inc. today, Warren Buffett said that he doesn't believe anyone understands cyber risk well enough today, so his firm will not seek to be a pioneer in underwriting cyber insurance. Cyber risks are seen as an enormous opportunity by many ... Read the full article

Retroactive reinsurance huge opportunity for European players: Jefferies

17th April 2018

Jefferies Group has released a report that questions Berkshire Hathaway’s dominance of the retroactive reinsurance sector, suggesting that it represents a huge opportunity for European reinsurers to exploit. The report observes that reinsurers have been pushing for growth in traditional markets with highly competitive renewals set for April and June, but ... Read the full article

No one as financially prepared as Berkshire for a $400bn mega-cat: Warren Buffett

5th March 2018

Addressing shareholders in his 2017 annual Chairman's letter, Warren Buffett underlined the financial strength of Berkshire Hathaway, highlighting its ability to respond to a $400 billion mega-catastrophe event. On the back of 14 consecutive years of underwriting profits, Berkshire Hathaway fell to an underwriting loss in 2017 as a result ... Read the full article

Berkshire Hathaway falls to underwriting loss, AIG contract outlook worsens

26th February 2018

Warren Buffett's Berkshire Hathaway fell to an underwriting loss due to the impact of 2017 catastrophe events drove $3 billion of losses, while at the same time the firm increased its liability estimates for the AIG adverse development coverage (ADC) contract. Hurricanes Harvey, Irma and Maria alone drove $3 billion of ... Read the full article

Berkshire Hathaway, Amazon & JP Morgan partner to address U.S. employee healthcare

30th January 2018

Warren Buffett's Berkshire Hathaway, Amazon, and JPMorgan Chase & Co. have announced a new partnership to address healthcare for their U.S. employees, designed to improve employee satisfaction and to lower costs. The partnership, which combines the knowledge and expertise of the three companies, will focus on its objective via an independent company ... Read the full article

Ajit Jain named to Berkshire Hathaway board as Vice-Chair Insurance

10th January 2018

Changes are afoot at Warren Buffett's conglomerate Berkshire Hathaway today, with two new board director positions being created, one of which sees long-time reinsurance chief Ajit Jain becoming Vice Chairman of Insurance Operations. Ajit Jain has led the reinsurance business at Berkshire Hathaway for some years now, having joined the Berkshire ... Read the full article

Berkshire Hathaway suffers $3bn cat hit, drives re/insurance to underwriting loss

6th November 2017

Warren Buffett's conglomerate Berkshire Hathaway has suffered around $3 billion of losses from the recent major catastrophe events, which has driven his re/insurance businesses to an underwriting loss for the quarter. Berkshire Hathway now faces the prospects of suffering its first full-year underwriting loss in 15 years, as the impacts 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.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.