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.
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
Competing bids for Alleghany ‘unlikely’, says KBW
23rd March 2022
A battle of bids to pick up Alleghany is unlikely, says Keefe, Bruyette & Woods (KBW) in a new note. KBW’s announcement comes after Berkshire Hathaway and Alleghany jointly announced on March 21, 2022, that they had entered into a definitive agreement under which Berkshire will acquire all outstanding Alleghany ... Read the full article
Moody’s considers Alleghany upgrade on Berkshire takeover
23rd March 2022
Moody’s has placed its ratings for Alleghany Corporation under review for upgrade following the announcement that Berkshire Hathaway will acquire all outstanding Alleghany shares for approximately $11.6 billion in cash. The rating agency is considering an upgrade for the Baa1 senior debt rating of Alleghany, as will as for the ... Read the full article
Alleghany could benefit over time from Berkshire Hathaway acquisition: AM Best
22nd March 2022
The merger between Alleghany and Berkshire Hathaway could see the former benefitting from the latter’s financial resources and flexibility, says AM Best. The ratings agency has released a new note saying that while the merger may not result in any immediate changes to Alleghany’s credit ratings, it and its affiliates could ... Read the full article
Alleghany a “perfect fit” for Berkshire Hathaway: ALIRT’s Paul
21st March 2022
David Paul, Principal at ALIRT Insurance Research, has argued that Alleghany Corporation is a “perfect fit” for the “growing insurance empire” of Warren Buffett’s Berkshire Hathaway. His comments follow news from earlier today when Berkshire Hathaway announced that it had acquired all outstanding Alleghany shares in an $11.6 billion transaction. The ... Read the full article
Berkshire Hathaway to acquire Alleghany for $11.6bn
21st March 2022
Warren Buffett's insurance and reinsurance firm, Berkshire Hathaway, has reached an agreement to acquire all of the outstanding shares of Alleghany Corporation in an $11.6 billion transaction. A definitive agreement between the pair sees Berkshire acquire all outstanding Alleghany shares for $848.02 in cash. The deal has been unanimously approved by both ... Read the full article
Berkshire Hathaway P&C reinsurance returns to profit in 2021
26th February 2022
The property and casualty reinsurance business of Warren Buffett-run holding company Berkshire Hathaway returned to profit in 2021, delivering positive income on the back of a 95.1% combined ratio, despite the impacts of $2.1 billion of major catastrophe losses. A year ago, Berkshire Hathaway's P&C reinsurance division, which includes Gen Re, ... Read the full article
Berkshire Hathaway’s NICO invests in Ariel Re
10th January 2022
National Indemnity Company (NICO), part of Warren Buffett's insurance and reinsurance firm Berkshire Hathaway, has expanded its strategic alignment with reinsurer Ariel Re through an investment and multi-year quota share agreement. NICO has both invested in Ariel Re Convertible Notes and extended its underwriting commitment to Ariel Re's Syndicate 1910 at ... Read the full article
Berkshire Hathaway announces $1.5bn Q3 reinsurance cat hit
8th November 2021
The reinsurance business of Warren Buffet-owned holding company Berkshire Hathaway has announced $1.5 billion in catastrophe-driven losses and loss provisions for 2021's third quarter, a figure that rises the firm’s overall losses and loss adjustment expenses by $442 million against the prior year quarter. Overall 9M cat losses of $1.9 billion ... Read the full article
Fidelis renews quota share with Berkshire Hathaway
25th October 2021
Bermuda-based holding company Fidelis has renewed its 20% whole account quota share with Berkshire Hathaway for 2022. Richard Brindle, Chairman and Group Chief Executive Officer of Fidelis said the deal will enable the company to continue supplying significant capacity to clients. “I continue to believe that there is considerable need for lead ... Read the full article
Berkshire Hathaway adds two to Board of Directors
21st October 2021
Warren Buffett’s insurance and reinsurance entity, Berkshire Hathaway Inc., has announced the additions of both Susan A. Buffett and Christopher C. Davis to its Board of Directors. Susan Buffett currently serves as the Chairperson of the Susan Thompson Buffett Foundation and also the Chair of the Sherwood Foundation, both of which ... Read the full article
BHSI announces senior promotions
4th October 2021
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Hilary Browne to the additional role of Regional Executive, UK and Europe, and Vanessa Maxwell to the additional role of Country Manager, UK. Browne will work closely with Chris Colahan, Head of UK & Europe, serving as deputy head of BHSI in the UK ... Read the full article
BHSI France names new Head of Customer & Broker Engagement
9th September 2021
Berkshire Hathaway Specialty Insurance (BHSI) has named Camille Luciani as Head of Customer & Broker Engagement in France. Luciani brings just under 25 years of experience spanning both the insurer and brokerage sides of the business. She was most recently Customer & Distribution Manager, Corporate Solutions, at Swiss Re where she stayed ... Read the full article
Berkshire Hathaway’s reinsurance arm falls to Q2 loss, but P&C result improves
9th August 2021
Berkshire Hathaway has reported a dip in net underwriting profit for the second quarter of 2021, as earnings at GEICO and Berkshire Hathaway Primary Group more than offset an underwriting loss at its reinsurance division. Across the Group, underwriting income fell by more than 53%, year-on-year, from $806 million to $376 ... Read the full article
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