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’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
Harvey insured loss will be large, Geico exposure similar to Sandy: Warren Buffett
30th August 2017
Warren Buffett of reinsurance and investments giant Berkshire Hathaway said today that he expects that the insured loss from hurricane Harvey will be large, but uninsured will eclipse it, while also admitting that his auto insurer Geico could face a similar impact to the one it suffered from superstorm Sandy. Speaking ... Read the full article
Kemah Capital signs underwriting agreement with Berkshire Hathaway companies
21st August 2017
Specialty lines managing general agency (MGA) Kemah Capital has entered into an agreement with members of the Berkshire Hathaway group of re/insurance companies that will see it underwrite a portfolio of business for the firms. The underwriting agency agreement will allow Kemah Capital to write a varied portfolio on behalf of ... Read the full article
Berkshire Hathaway capacity to back medical professional liability facility
17th August 2017
Berkshire Hathaway's MedPro Group has announced plans to expand its underwriting of clinical solutions risks that extend beyond U.S. borders through participating in the U.S. Jurisdiction medical professional liability facility of The Medical Professional Liability Company (The MPLC). Warren Buffett's insurance and reinsurance group Berkshire Hathaway will put capacity to work ... Read the full article
Berkshire Hathaway falls to underwriting loss on AIG, Ogden, reserves & cats
7th August 2017
Warren Buffett's Berkshire Hathaway reported its second-quarter and half-year results on Friday, revealing an underwriting loss as a number of factors impacted profits at Buffett's insurance and reinsurance divisions. Overall insurance underwriting fell to a -$22 million loss at Berkshire Hathaway, down from an underwriting profit of $337 million in the ... Read the full article
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