Berkshire Hathaway
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Staffing upheaval continues in the marine class of business, as companies battle to hire and retain talent. -
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.
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The reinsurance result was boosted by the group’s acquisition of TransRe last year.
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BHSI grew to be one of the largest writers of D&O in London during the hard market of 2020 and 2021.
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Mark Walker has more than 35 years of insurance experience and joined BHSI in 2019 after over three years at QBE.
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The massive line from Warren Buffett’s carrier – previously reported by this publication – supported the insurer’s growing inland portfolio as policies have headed to the state net.
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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
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Early private deals have provided far more stability in this year’s renewal than last.
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Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.
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Citizens’ board is slated to meet on May 16 at 13:30 ET to discuss the reinsurance and risk transfer program.
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Given better pricing following a disappointing January 1, the company increased its exposure significantly.
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Browne becomes deputy global chief underwriting officer and Holmes assumes the role of global underwriting officer of property for energy and construction.
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