Berkshire Hathaway
-
Chres Lee was previously M&A counsel for Liberty Global Transaction Solutions.
-
He praised 2023 insurance results as other sectors were a “disappointment”.
-
Geico reported lower frequency, higher severity and increased favorable development.
-
A quick roundup of this week’s biggest stories.
-
Its confederation of insurance subsidiaries will have to operate with fewer strategic advantages than they do today.
-
The underwriter will work in the retail property team at BHSI serving the central region.
-
Berkshire Hathaway announced that Munger “died peacefully” in a California hospital this morning, citing the Berkshire vice chairman’s family.
-
The executive has over three decades of surety experience in underwriting, consulting, and claims roles, including a stint as surety claims counsel.
-
Lower losses reflected higher average premiums per auto policy, increased reserve releases and lower claims frequency, which were partially offset by higher severity.
-
Ahead of third quarter earnings, many personal lines insurers are pulling several levers to right-size their operations, including conducting layoffs and reducing exposure.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Sources said the Houston, Texas-headquartered program manager is now writing business on Sutton National paper.
-
Joining the company in 2014 as senior underwriter, casualty, Meyer has held increasingly senior positions in BHSI’s North America casualty organization.
-
The two subsidiaries, which together command less than 1% of the homeowners' market share in the Golden State, are the latest to flee amid persistent inflation, high cat losses and a strict regulatory environment.
-
The Omaha conglomerate held its ~2.1% stake in Aon valued at nearly $1.5bn and its interest of over 3% in Markel, worth over $652mn at the end of Q2.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Geico’s CoR fell 10.3 points to 94.7%, fueled by higher average premiums per auto policy, a reduction in advertising costs and favorable reserve development.
-
In addition to his new role, the executive will retain his current position as head of marine for the Australasia region.
-
Early private deals have provided far more stability in this year’s renewal than last.
-
Everest Re’s $1.5bn capital raise could be part of a continued pivot, or an early indicator of a shifting marketplace.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
Analysis of 2022 statutory data shows top US-exposed reinsurers grew assumed premiums 13% year-on-year in 2022.
-
Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Citizens’ board is slated to meet on May 16 at 13:30 ET to discuss the reinsurance and risk transfer program.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Given better pricing following a disappointing January 1, the company increased its exposure significantly.
-
The carrier also reported lower claims frequencies, offset by increases in claims severities.
-
Browne becomes deputy global chief underwriting officer and Holmes assumes the role of global underwriting officer of property for energy and construction.
-
Byrnes joined BHSI almost four years ago as construction vice president for the US Eastern region, overseeing construction professional liability.
-
The latest statutory data release shows commercial carriers continued to benefit from the extended pricing cycle and exposure growth propelled by inflation, although growth slowed year-on-year.
-
Buffett said Berkshire's financial strength allows its insurance subsidiaries to “follow valuable and enduring investment strategies” unavailable to competitors.
-
The deterioration was driven by increased cost inflation in property and physical damage claims, which began to accelerate in the second half of 2021 and continued through 2022.
-
Five auto insurers receive approval to raise rates after 32-month halt by the California Department of Insurance.
-
It is understood that the executive will be joining the conglomerate’s reinsurance business, run by Ajit Jain.
Most Recent
-
AM Best downgrades State Farm General Insurance FSR to B
March 28, 2024 -
M&A weekly roundup: Risk Strategies and NFP
March 28, 2024