Berkshire Hathaway News

Berkshire’s MedPro Acquires Swiss Re Corporate Health Care Liability Business

Berkshire Hathaway health care liability insurance unit MedPro Group has agreed to acquire the healthcare professional liability business of Swiss Re Corporate Solutions effective Oct. 11. The agreement includes hospital and senior care accounts underwritten by SRCS from the U.S., …

Buffett-Owned Chemical Firm Lubrizol Faces Lawsuits After Fire in Rouen, France

More than 5,250 tonnes of chemicals, oil and fuel additives have burned in a massive fire at U.S. specialty chemical firm Lubrizol in Rouen, France, last week, the local prefecture said in a statement on Tuesday. Following days of protests …

Aviation Industry Braces for Double-Digit Premium Hikes After 737 MAX Groundings

The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co.’s 737 MAX jets following two fatal crashes, …

GEICO Gets Progressive, Joins Auto Insurers Offering Telematics

Berkshire Hathaway’s GEICO auto insurer has joined the ranks of carriers using telematics to track and improve driver behavior—after resisting for years. Berkshire Hathaway’s GEICO has been one of the few among the top 10 largest personal auto insurance carriers …

Space Insurance Premiums Could Double After European Vega Rocket Crash

Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …

Buffett Donates $3.6 Billion of Berkshire Stock to Five Charities

Warren Buffett agreed to donate $3.6 billion worth of Berkshire Hathaway Inc. stock to five charities, including the Bill & Melinda Gates Foundation, in his latest disposal since making a pledge to give the shares away. That brings the total …

Buffett Has Eyes on Competitor Progressive, Not Car Makers Entering Insurance

Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional auto insurers. “The success of the auto companies …

Berkshire’s Buffett Wants to Do More Business in UK and Europe, Regardless of Brexit

Billionaire Warren Buffett wants to do more business in the United Kingdom and Europe regardless of how Brexit turns out. The Berkshire Hathaway Inc. chairman and chief executive officer said he would “love to put more money in the UK” …

Not All Analysts Still See Berkshire Hathaway As a Buy

Two longtime analysts of Berkshire Hathaway Inc. appear deeply divided over prospects for the company led since 1965 by billionaire Warren Buffett, in reports issued on Monday ahead of this weekend’s shareholder extravaganza. Jay Gelb of Barclays Capital, who rates …

Analysis: Warren Buffett Champions an Inferior Product in THREE Policy

Warren Buffett, often ahead of the curve, sounded like a disrupter in a 2004 shareholder letter. Fifteen years ago, Buffett wrote, “Insurers have generally earned poor returns for a single reason: They sell a commodity-like product. Policy forms are standard, …