-
Berkshire Hathaway’s "float" rose to $171bn in 2024 from $169bn in 2023 as Buffett praised Geico’s Todd Combs. -
The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
-
A quick roundup of our best journalism for the week.
-
January cat losses continue to run higher than prior years, with no help from latest wildfires.
-
The ratings agency has revised Mercury’s outlook from stable to negative.
-
The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
-
In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
-
The carrier said 72% of those losses occurred in personal property.
-
The estimate is net of its per-occurrence reinsurance program and gross of tax.
-
The carrier expects to book $100mn-$140mn from the California wildfires.
-
Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
-
The loss aggregator has classified the fires as two separate events for reinsurance purposes.
