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The carrier’s estimated first event limit could increase 16%, to $1.35bn.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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At his last annual meeting as CEO, Buffett highlighted the importance of Berkshire’s insurance operations.
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The primary and reinsurance unit CoRs were 103.1% and 98.7%, respectively.
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The Canadian conglomerate’s total cat losses in Q1 reached $781mn, including $692.1mn from the fires.
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Insolvencies caused by the tariffs could also cause increased losses
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The sale price represents Elephant’s approximate net asset value.
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The executive will define strategic priorities and guide global growth.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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From where to prioritise investing to managing slower growth, there are tough balancing acts ahead.
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The acquisition will position Ageas as one of the top three UK personal lines insurers.
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The investment recovery will be welcome but Chinese tariffs will contribute to loss-cost inflation.