Berkshire Hathaway

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.

The reinsurance result was boosted by the group’s acquisition of TransRe last year.

BHSI grew to be one of the largest writers of D&O in London during the hard market of 2020 and 2021.

Mark Walker has more than 35 years of insurance experience and joined BHSI in 2019 after over three years at QBE.

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.

Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.

Early private deals have provided far more stability in this year’s renewal than last.

Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.

Citizens’ board is slated to meet on May 16 at 13:30 ET to discuss the reinsurance and risk transfer program.

Given better pricing following a disappointing January 1, the company increased its exposure significantly.

Browne becomes deputy global chief underwriting officer and Holmes assumes the role of global underwriting officer of property for energy and construction.

The move is the latest in a series of several personnel exits from Aviva’s commercial lines operations.