Reinsurance News
Berkshire Hathaway
Berkshire Hathaway to launch three-page insurance product for small businesses
11th February 2019
The Insurance Group of Warren Buffett's conglomerate Berkshire Hathaway has announced the launch of a concise and comprehensive three-page insurance product for small businesses called THREE. The company hopes to cut down the lengthy and time-consuming processes currently required for a small U.S business to secure the necessary cover. THREE provides insurance ... Read the full article
Berkshire Hathaway, Chinese insurers climb “World’s Largest” ranking
8th January 2019
The insurance operations of Warren Buffett's conglomerate Berkshire Hathaway Inc. and China's largest insurance companies are the biggest climbers in A.M. Best's ranking of the World's Largest Insurers. The ranking of the world's largest insurance companies is available to view here on Reinsurance News, in collaboration with A.M. ... Read the full article
Berkshire Hathaway withdraws from Hong Kong terrorism pool
11th December 2018
Berkshire Hathaway Specialty Insurance Company (BHSI) announced that it has withdrawn from the Hong Kong Employees’ Compensation (EC) terrorism pool effective 1 December 2018. Instead, BHSI will now offer terrorism coverage to customers directly, making them the first insurer to do so. This decision benefits all BHSI’s new and existing EC customers ... Read the full article
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