According to Fitch Ratings, this sector has been a “chronically underperforming product segment.” Fitch Ratings has revealed that the commercial auto insurance market as a whole had not only experienced an underwriting loss last year, but also that this was the fifth year in a row in which that happened. Fitch also said that the P&C market was in its third consecutive year of considerable underwriting profits. The American commercial auto insurance market has become a “chronically underperforming product segment” for insurers, said Fitch. These underwriting losses have even been…
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Berkshire Hathaway makes a move on business insurance
Berkshire Hathaway to muscle into business insurance sector Berkshire Hathaway is making a strong move into the business insurance sector in order to have a greater impact on how this sector operates. The company has been looking to enter into new sectors of the global insurance industry lately in order to take advantage of new opportunities that exist in developing markets around the world. In the past, the company has pushed into the business insurance sector due to certain trends, but this time is different for Berkshire Hathaway. Company cites…
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