Berkshire Hathaway

The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.

The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.

The panelists discussed the ILS reset and the path to maintaining discipline in this sector.

Geico more than tripled underwriting profits.

Aeolus increased its participation on the program more than fourfold.

In 2023, Berkshire provided around $1bn in capacity to the Floridian insurer.

Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.

Traditional reinsurers such as Berkshire Hathaway and Arch pushed for more share, our annual study of Florida cessions shows.

This year, the association’s funding will come to $4.05bn with a $2.45bn retention.

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

Citizens has disclosed that Nephila Capital increased its exposure to the carrier’s reinsurance program by 68% to a total $756mn line.

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.

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.

The ending of an exclusivity arrangement also allows Berkshire Hathaway to offer reinsurance to Australian rivals.

The renewal equates to 20% of its total 32.5% quota share agreement, with another 10% having recently been renewed by Munich Re and Swiss Re.

Fidelis and MS Reinsurance are among the ceding companies that have support from Ajit Jain’s unit.

The chunky deal comes as many reinsurers are heavily cutting their Florida cat books.

The purchaser is known for having a very low cession ratio, although it said it would leave Alleghany to operate independently.

The transaction will create a reinsurance entity roughly on a par with Scor in terms of net reinsurance premium.

The deal values the TransRe owner at 1.26 times book value as of 31 December 2021, and represents a 29% premium on its stock price.

The reinsurer said the deals would enhance its abilities to provide innovative solutions for clients.

CEO Richard Brindle calls for pricing corrections to reflect climate change and exposure growth.

New and growing carriers helped to fill out treaties as Sompo stepped back from a market that came in flatter than expected for remote risk.

Berkshire, along with some other expansive reinsurers, grew its level of assumed reinsurance premium from top Florida insurers significantly in 2020, as the ILS market share dropped overall.

Its quota share partnerships provide the equivalent of $4.1bn of capital support based on 1-in-250-year loss scenarios.

The carrier’s long-standing client Alfa has become an equity investor.

The deal will come into effect on 1 October, with the specialty player's gross lines likely to scale up by a quarter.

Warren Buffett’s reinsurance business fell to a $1.1bn loss as Covid-19 and prior-year casualty losses hit the result.

Warren Buffett said the company faces a more limited impact from the virus than some other insurers.

The retro renewals are still in the calm-before-the storm phase but it seems that capacity limitations are set to open up more of a role for opportunistic players.

Sources said that Berkshire Hathaway will not support the cover for 2019.

The insurer’s losses are far from eroding its deductible in 2018, after two consecutive years of claims under its aggregate reinsurance covers.