Tag: Berkshire Hathaway

Warren Buffett’s insurance industry forecast might surprise you

Julie Campbell
Berkshire Insurance Unit - Warren Buffett of Berkshire Hathaway

According to the head of Berkshire Hathaway, insurers should worry about self-driving cars, not climate change. At the Berkshire Hathaway shareholder meeting last weekend, Warren Buffett shared his insurance industry forecast and brought up a number of trends and innovations that have been the topic of conversation among experts in this arena. The main point that has drawn the spotlight is that Buffett doesn’t feel climate change will harm the industry. According to the insurance industry forecast he shared, climate change shouldn’t be causing any pain to his business. This…

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New inland marine insurance line launches from Berkshire Hathaway

H. Cutner
Marine Insurance

This has provided independent agents in this category with a new line of offerings for their customers. Berkshire Hathaway Specialty Insurance (BHSI) has now announced that it has launched a complete new line of inland marine insurance products within the United States, which are meant to be a complement to its existing contractor’s builder’s risk and ocean cargo coverages. There are a range of different products that are being offered within this new line of insurance policies. Among the types of coverage in this new inland marine insurance line are:…

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Berkshire Hathaway is pulling back from the property insurance space

Marc
Lloyd’s insurance claims - Home office building

Lower claims and financial losses are good news for insurance providers This year, damage caused by natural disasters has gone down, which has provided property insurance providers with some breathing room in terms of claims payments. While some countries have experienced fairly catastrophic disasters, these events have been somewhat mild when compared to what the insurance industry had to deal with last year, according to a report from Munich Re. Though claims payments are going down, so are premiums, which means that insurers are still seeing some financial stress in…

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Warren Buffett makes insurance news with caution in the industry

Julie Campbell

Berkshire Hathaway recently announced its earnings and stated that it is unlikely that an underwriter would be purchased. In recent insurance news, Warren Buffett of Berkshire Hathaway finally put an end to the speculations that have been made about the company for a long time, by saying that they don’t have any real intention to ever purchase a large commercial underwriter, and that the intention is to take a more organic strategy in order to grow their commercial platform. Buffett fielded some heavy questions at the annual shareholder meeting for…

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Berkshire insurance exec could one day replace Warren Buffett

Julie Campbell

The billionaire CEO and chairman of the company said that he would support Ajit Jain if he should ever want the top spot. Back in 2011, at a Bengaluru news conference, Warren Buffet had said that he would be willing to support Berkshire insurance exec Ajit Jain, if he should ever wish to step up into the position of CEO and chairman. Speculation has recently been rising among the company’s investors, with regards to who will succeed Buffett. Warren Buffett, who is currently 84 years old, has yet to give…

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Berkshire Hathaway Specialty Insurance makes two critical appointments in Asia

Julie Campbell
berkshire hathaway specialty insurance industry

The company has now announced its hiring for two key underwriting team leadership positions in that market. Berkshire Hathaway Specialty Insurance (BHSI) has now announced that it has made two important appointments for the leadership positions in its Asian underwriting team, as the Asia regional head of first party lines position was filled by Malin Fredriksson, and the Asia regional head of engineering and construction is now Kiran Prakash. Both of those positions are located in Singapore and will be integral to the company’s presence there. Fredriksson has joined Berkshire…

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Berkshire Hathaway seeks to enter the insurance industry in Canada

G. Turner
berkshire hathaway specialty insurance industry

The company has recently announced its intentions for “expanding into the Canadian marketplace.” Berkshire Hathaway Specialty Insurance has now announced that it will be making its way into the “Canadian marketplace,” and that it already has the necessary licenses for conducting business in that insurance industry. Within that country, the company said it, “underwrites on the paper of National Liability & Fire Insurance Company.” National Liability is one of the members of the National Indemnity group of insurers which is owned by Berkshire Hathaway. This move will bring the insurer’s…

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