Business Services Industry
Berkshire to add to its insurance business.
Business Insurance, May, 2001 by Hofmann, Mark A.
OMAHA, Neb.-Insurance is likely to become an even bigger part of the mix of businesses that make up Berkshire Hathaway Inc., according to the company's chairman. Insurance already constitutes the biggest single segment of Berkshire Hathaway's holdings, something Chairman Warren Buffett said he would not have predicted years ago.
That observation, made by Mr. Buffett during the company's annual meeting in Omaha last month, came in response to a question about what he expects Berkshire Hathaway to look like in 20 years. Last year, Berkshire Hathaway added to its existing insurance holdings-which include Berkshire Hathaway Reinsurance Group, General Reinsurance Corp., Berkshire Hathaway Direct Insurance Group and personal lines automobile insurer GEICO Corp.-by...
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