Berkshire Hathaway
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The changes come as regulators target more individual directors with enforcement action.
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P&C underwriting gains fell by 52.6 percent as all three major P&C business units contributed to weaker results. -
The sanction comes after Berkshire Hathaway agreed to sell its stake in the workers’ compensation carrier to United Insurance.
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The experienced executive was general manager of Germany at QBE Europe
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The deal comes amid regulatory probes into the workers’ compensation insurance unit.
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Mark Walker is a former CEO of QBE Hong Kong.
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The group will start by underwriting property, casualty, executive and professional lines.
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Bill Sullivan will retire after six years leading Berkshire’s casualty construction team.
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Three will be a “significant asset” of Berkshire Hathaway in 10 to 20 years.
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The Warren Buffett-headed business reported an underwriting loss for the P&C reinsurance operations in the first quarter.
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Steve Harwood joins from Pembroke to lead the new operation.
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Applied Underwriters has reportedly been under investigation since as early as May.
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