Live Insurance News

Berkshire Hathaway seeks to enter the insurance industry in Canada

February 2, 2015January 31, 2015 G. Turner

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…

Berkshire Hathaway sees promise in Singapore’s insurance industry

December 16, 2014December 13, 2014 Logan B.

Warren Buffett Berkshire Hathaway Insurance industry

Berkshire Hathaway to sell non-life insurance coverage in Singapore Berkshire Hathaway, one of the world’s leading insurance conglomerates, is planning to begin selling non-life insurance coverage in Singapore. The company has been granted a license to sell such coverage in the country and this coverage will be sold through Berkshire Hathaway Specialty Insurance. The subsidiary was launched last year in order to accommodate with needs in the commercial insurance market and will begin doing business in Singapore in the near future. Company will underwrite property, casualty, and liability coverage in…

Berkshire Hathaway makes insurance news with license in Singapore

December 10, 2014December 8, 2014 Julie Campbell

The company has now won the permit that it needs to sell nonlife coverage within the country. In insurance news that represents a first for Berkshire Hathaway in terms of opening up shop in Asia for nonlife products, Warren Buffett’s conglomerate has now won a license to sell in Singapore, representing a first step that the company is taking in a broader expansion across that region. The license in the South East Asian country was awarded to Berkshire Hathaway Specialty Insurance. The company behind this insurance news provides a range…

Insurance industry is turning to software solutions to continue adapting to changing market

May 16, 2014May 14, 2014 S.Vagus

Berkshire Hathaway to make use of new cloud-based software solution from Accenture Berkshire Hathaway Specialty Insurance has announced that it has accepted an offer from Accenture, a technology services firm, regarding the use of cloud-based property and casualty software. The software will be delivered through the Accenture Cloud Platform and will allow Berkshire Hathaway to consolidate and streamline its business processes. This is expected to enhance the insurer’s efficiency and help reduce operating costs to some degree. Cloud-based technologies and services are becoming more popular throughout the insurance industry. The…

Insurance company results drop at Berkshire Hathaway in Q1

May 8, 2014May 6, 2014 Julie Campbell

The property and casualty business is sliding when compared to last year’s figures. In the first quarter of this year, the primary property and casualty Berkshire Hathaway insurance company operations have managed to record gains in the double digits for their pre-tax earnings, but this isn’t all good news. The reinsurance results have led to an operating earnings drop of 6.6 percent overall for the conglomerate. When Berkshire Hathaway Reinsurance Group’s first quarter figures are compared to the earnings from the first quarter of 2013, the situation looks even worse.…