Berkshire Q1 cat losses reach $500mn
Warren Buffett-led Berkshire Hathaway suffered catastrophe losses of $500mn in the industry's bruising first quarter.
General Re, one of Berkshire's operating subsidiaries, fell to an overall underwriting loss of $39mn for the period, as the direct reinsurer took a $278mn hit on February's Chilean earthquake and European Windstorm Xynthia.
In addition, Berkshire Hathaway Reinsurance Group - the opportunistic reinsurer headed by Ajit Jain - took a further $140mn in Chilean losses via its 20 percent quota share arrangement with Swiss...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
