Ajit Jain bets on Lloyd’s as Berkshire Hathaway changes its tune
Berkshire Hathaway's mammoth Lloyd's co-insurance deal
with Aon is the most visible demonstration yet of reinsurance
supremo Ajit Jain's significant strategy change from being an
in-and-out opportunistic capital provider for distressed buyers to
a consistent through-the-cycle counterparty.
As first revealed by The Insurance
Insider last week, the sidecar-style arrangement will
see Berkshire Hathaway's UK arm take a 7.5 percent quota share
across Aon's estimated $2.5bn book of retail subscription
business that has some level of Lloyd's participation, however
modest. The...
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