Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Berkshire keeps foot on reinsurance brake; Q1 cat losses reach $500mn

10 May 2010

In the week that Berkshire Hathaway's Charlie Munger remarked: "I would not bet the farm on price increases...it's so easy to under-price and under-reserve", evidence came of the investment giant's limited appetite for reinsurance business.

After the markets closed on 7 May, Berkshire Hathaway revealed that Q1 earned premiums fell significantly from $9.5bn to $8.7bn, with much of the decline coming because of reduced reinsurance premiums.

"We continued to constrain the volume of business written as premium rates have not...

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