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 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
Berkshire’s MedPro gets renewal rights for Swiss Re CorSo health book
14th October 2019
MedPro Group, Berkshire Hathaway's U.S. healthcare liability insurer, has entered into a definitive agreement to acquire the renewal rights of Swiss Re Corporate Solutions' Healthcare Professional Liability book, effective October 11th, 2019. According to an announcement on the deal, the agreement includes Hospital and Senior Care accounts underwritten by Swiss Re ... Read the full article
Oscar Health in reinsurance deal with Berkshire Hathaway: Reports
16th August 2019
U.S. domiciled health insurer Oscar Health has entered into a new multi-year quota share reinsurance agreement with Berkshire Hathaway's National Indemnity Company (NICO), reports Forbes. Oscar Health established itself as a startup with a focus on providing Obamacare coverage, but according to reports, is looking to expand within the individual and ... Read the full article
BHSI adds reinstatement clause to professional liability product
13th August 2019
Berkshire Hathaway Specialty Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced that it has enhanced its Asia Executive First Directors & Officers (D&O) Liability Insurance to include a provision that reinstates policy limits exhausted by an entity or by individual needs. The reinstatement provision is automatic and is ... Read the full article
Berkshire Hathaway reports reinsurance underwriting loss & creep
5th August 2019
Warren Buffett’s property and casualty reinsurance businesses at Berkshire Hathaway have been hit by loss creep from prior year events, which have dented the quarter and half-year, lowering revenues for the unit by almost half. After a first-quarter of 2019 when Berkshire Hathaway suffered from technical losses on the underwriting ... Read the full article
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