Berkshire Hathaway
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
The deal serves as a reminder that the conglomerate, with its ~$140bn cash pile, could be a major consolidator in P&C.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The transaction will create a reinsurance entity roughly on a par with Scor in terms of net reinsurance premium.
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Berkshire Hathaway has agreed to buy the TransRe owner in an all-cash deal worth $11.6bn.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The deal values the TransRe owner at 1.26 times book value as of December 31, 2021, and represents a 29% premium on its stock price.
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Specialty primary business also delivered better underwriting profits, as BHSI grew 36%.
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Combined, Warren Buffet’s investment conglomerate has shed over 4.88 million shares of Marsh since the end of June, or more than 92% of its holdings.
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Data from Apple and Google show that Omicron has slowed the return to driving in some of the largest states by premiums.
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The reinsurer said the deals would enhance its abilities to provide innovative solutions for clients.
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Commercial lines loss ratios may move slightly higher, while personal auto carriers see the light at the end of the loss-cost tunnel.
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