In one of the most anticlimactic announcements of the year, Berkshire Hathaway says its new commercial E&S unit has commenced operations.
Berkshire Hathaway Specialty Insurance now writes property, casualty, professional and executive liability insurance and programs in the U.S., says Berkshire.
“It's official: We are moving into commercial insurance in a substantial way, and we are here to stay,” says Warren Buffett, CEO of Berkshire Hathaway, in a statement. “With our proven underwriting discipline and financial strength, along with a stellar management team, Berkshire Hathaway Specialty Insurance is a welcome solution for customers seeking large-scale property and casualty capacity for the long term.”
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