Alleghany acquisition brings Buffett a complementary Berkshire-liteFrom the tone of its annual stockholder letter, its focus on generating float for investing from its (re)insurance operations and its portfolio of non-financial businesses, Alleghany has been described as a mini-Berkshire Hathaway.
Alleghany share price jumps 25% on Berkshire Hathaway dealShares in Alleghany Corporation were trading up almost 25 percent at $845.00 mid-morning in New York today after it was announced that Berkshire Hathaway has agreed a deal to buy the TransRe, RSUI and CapSpecialty parent.
KBW: Alternative bidders unlikely to disrupt Berkshire’s $11.6bn Alleghany acquisitionAlternative bidders are unlikely to emerge during the 25-day “go shop” period built into Berkshire Hathaway’s $11.6bn acquisition agreement for Alleghany, according to KBW analyst Meyer Shields.
Berkshire Hathaway to acquire Alleghany in $11.6bn dealBerkshire Hathaway has agreed to acquire Alleghany, parent company of TransRe, RSUI and CapSpecialty, in a deal which values the NYSE-listed carrier at $11.6bn.
BHSI promotes Hamon to lead executive and professional lines in FranceBerkshire Hathaway Specialty Insurance (BHSI) has promoted Olivier Hamon to head of executive and professional lines in France.
Berkshire Hathaway swings to UW income of $372mn in Q4Berkshire Hathaway has reported a swing to underwriting income of $372mn for the fourth quarter with underwriting income for the full year up 10.8 percent to $728mn, while overall operating earnings for the Warren Buffett-led conglomerate in Q4 were up 45.2 percent to $7.29bn.
BHSI promotes Flesch to head of marine in GermanyBerkshire Hathaway Specialty Insurance (BHSI) has promoted Dirk Flesch to head of marine in Germany.
BHSI promotes Alder-Smurthwaite to UK casualty headBerkshire Hathaway Specialty Insurance (BHSI) has promoted Caroline Alder-Smurthwaite to head of casualty and James Emson to the role of head of technical casualty in the UK.
Berkshire Hathaway Re hires legacy specialist Harnick from GCBerkshire Hathaway Reinsurance Group has hired legacy transaction specialist Michelle Harnick from Guy Carpenter.
Berkshire sells 85% of Marsh McLennan stake but holds on to Aon in Q4Berkshire Hathaway sold 85 percent of its remaining stake in Marsh McLennan in the fourth quarter but retained its full holding in Aon, according to Securities and Exchange Commission filings made by the investment conglomerate and (re)insurance giant.
BHSI names McGriskin head of UK financial institutionsBerkshire Hathaway Specialty Insurance (BHSI) has promoted Janine McGriskin to lead its UK financial institutions business.
Ariel Re strengthens Berkshire partnership with new quota share and investmentAriel Re chairman Jim Stanard said the Bermudian reinsurer was planning for Berkshire Hathaway to be its “long-term cornerstone strategic partner” after securing investment and quota share reinsurance through the group’s National Indemnity Company subsidiary.
BHSI promotes Meyer to lead North American life sciencesBerkshire Hathaway Specialty Insurance (BHSI) has promoted Angela Meyer to head up its North American life sciences business.
BHSI announces promotions for Warrior and KirbyBerkshire Hathaway Specialty Insurance has promoted Chris Warrior to head of executive and professional lines in the UK.
Berkshire Hathaway cuts MMC stake; holds steady on AonWarren Buffett’s Berkshire Hathaway cut its stake in Marsh McLennan (MMC) by more than a third in the third quarter of 2021, following a reduction in its holding in Q2.
BHSI continues German expansion with Frankfurt officeBerkshire Hathaway Specialty Insurance (BHSI) has continued its expansion in Germany with the launch of an office in Frankfurt.
BHSI promotes Beltran to global property underwriting officerBerkshire Hathaway Specialty Insurance (BHSI) has promoted Carlos Beltran to senior vice president, global property underwriting officer.
Q3 cats drive Berkshire Hathaway (re)insurance ops to $1.02bn UW lossIncreased average claims frequency and a $400mn Ida hit at Geico as well as the impact of third quarter cat losses totaling $260mn in its primary operations and $1.5bn in P&C reinsurance drove Berkshire Hathaway to a $1.02bn pre-tax underwriting loss at its (re)insurance business for the period.
Fidelis renews quota share with Berkshire HathawayBermuda-based Fidelis Insurance has renewed its 20 percent whole account quota share with Berkshire Hathaway for 2022, with group CEO and chairman Richard Brindle emphasising the need for pricing to “reflect the real impacts” of climate change and exposure growth.
BHSI finalises international network in 170 countriesBerkshire Hathaway Specialty Insurance (BHSI) has launched its new global network in tandem with owned offices and network partners around the world which will enable it to now provide locally admitted coverage in 170 countries.