Berkshire Hathaway

Data from Apple and Google show that Omicron has slowed the return to driving in some of the largest states by premiums.

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

Commercial lines loss ratios may move slightly higher, while personal auto carriers see the light at the end of the loss-cost tunnel.

Berkshire Hathaway reduced its shareholding in Marsh McLennan by 35% during the third quarter, as the Warren Buffet-led business continued to sell down across its portfolio, an analyst note from Morgan Stanley shows.

The Colombian executive joined BHSI in 2018 as a vice president, property underwriting manager for the firm’s Middle East regional practice based in Dubai.

Reinsurance ops had $1.5bn in cat claims, BHSI NPW is up 42% YTD, while the conglomerate also said spiking inputs costs from supply disruptions have weighed on earnings.

Trucking companies, having already increased self-insured retentions by millions, will need to contend with further rate increases into 2024.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

The newcomers are finding it more difficult to disrupt the sector than they had expected.

Berkshire Hathaway’s Aon holding rose 7.3% in Q2, with the Marsh McLennan stake down 21%.

Geico’s loss ratio jumped by nearly 18 points in the quarter on higher claims frequency, on par with results at personal auto rival Allstate.

While the pandemic offered some relief to commercial auto insurers, maintaining margins will be tricky to achieve given rate moderation.