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.
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
Berkshire Hathaway adds additional €40mn into its insurance company
28th June 2021
According to The Irish Times, Warren Buffett’s Berkshire Hathaway has added an additional €40 million into its insurance company to bolster its capital levels. The funding was provided back in February and by way of new shares and brought its share capital to €176 million. The publication also noted that the Nebraska-based ... Read the full article
Berkshire Hathaway’s reinsurance unit hit by Uri & COVID mortality claims
3rd May 2021
Berkshire Hathaway's global reinsurance business continued to feel the effects of the COVID-19 coronavirus pandemic during the first-quarter of the year, with mortality claims driving the life reinsurance business to a loss. At the same time, Berkshire Hathaway’s property and casualty reinsurance division delivered a profitable quarter's underwriting, despite a $310 ... Read the full article
Berkshire (BHSI) names Rachel Simon as SVP
9th March 2021
Berkshire Hathaway Specialty Insurance (BHSI), part of Berkshire Hathaway, has appointed Rachel Simon as Senior Vice President (SVP), Head of U.S. Commercial Private and Nonprofit, Professional Lines and Transactional Liability Claims. Simon joins BHSI with over two decades of Executive and Professional Lines experience, most recently working at Great American Insurance ... Read the full article
Berkshire Hathaway’s reinsurance underwriting loss widens on COVID & catastrophes
27th February 2021
Berkshire Hathaway’s insurance and reinsurance business suffered the effects of the global pandemic and severe catastrophe events in 2020, driving the reinsurance underwriting loss higher to -$2.7bn for the year. A year ago, the reinsurance business of the Warren Buffett owned conglomerate, Berkshire Hathaway Reinsurance Group, fell to an underwriting loss ... Read the full article
Berkshire Hathaway (BHSI) adds Brady Head to Executive leadership
7th January 2021
Berkshire Hathaway Specialty Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has appointed Brady Head as Senior Vice President (SVP), Product Line Officer for D&O Liability Insurance in North America. Head joins the company after 27 years with global insurer and reinsurer AIG, where he most recently served as Head ... Read the full article
Amazon, Berkshire-backed healthcare venture Haven to shut down
5th January 2021
Haven, the joint healthcare venture launched by Amazon, Berkshire Hathaway and JP Morgan in 2018, is set to shut down and disband by the end of the month, sources at CNBC have reported. The three companies originally partnered to tackle the “ballooning costs of healthcare” in the US market through ... Read the full article
Berkshire Hathaway GUARD selects new commercial fleet telematics program
11th December 2020
Berkshire Hathaway GUARD, a subsidiary of Warren Buffett’s global re/insurer, has selected IMS to provide a new commercial fleet insurance program. TrackMRI (Monitor, React, Improve) is a commercial fleet insurance telematics solution that includes device logistics support, data collection, scoring, fleet behaviour assessment and program analytics. As part of the program, IMS ... Read the full article
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