Alleghany

Buffett said Berkshire's financial strength allows its insurance subsidiaries to “follow valuable and enduring investment strategies” unavailable to competitors.

The companies will likely “benefit from the vast financial resources and financial flexibility,” the agency said after the completion of the merger deal with Berkshire Hathaway.

The completion of the deal comes after last week the companies received all regulatory approvals.

Berkshire Hathaway and Alleghany have received regulatory approvals to close the $11.6bn deal announced earlier this year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Specialty Underwriting head Adam Sills is promoted to president and CEO.

The New York-based insurance conglomerate recorded a loss ratio of 60.6%, 0.3 points down from the previous year, while its core LR improved 0.9 points to 60.8%.

More than 98% of votes cast supported the acquisition.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

TransRe booked Q1 $35mn cat losses associated with the ongoing conflict between Russia and Ukraine.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The firm’s reinsurance heavy business mix, investments, and slowing value creation likely kept buyers away.