Berkshire Hathaway Inc. is a multinational conglomerate holding company headquartered in Omaha, Nebraska. It is renowned for its insurance businesses, among other ventures. Here are key details about Berkshire Hathaway’s insurance operations:
Overview of Berkshire Hathaway
- Founded: 1839 (as Valley Falls Company), acquired by Warren Buffett in 1965.
- CEO: Warren Buffett.
- Headquarters: Omaha, Nebraska.
Insurance Companies Under Berkshire Hathaway
Berkshire Hathaway owns several prominent insurance companies, including:
- GEICO (Government Employees Insurance Company)
- Founded: 1936
- Services: Auto insurance for private and commercial vehicles.
- Website: GEICO
- Berkshire Hathaway Reinsurance Group
- Services: Provides reinsurance services, covering property, casualty, and life reinsurance.
- Berkshire Hathaway Primary Group
- Includes: Berkshire Hathaway Specialty Insurance, MedPro Group, and Berkshire Hathaway Homestate Companies.
- Services: Offers a range of primary insurance services, including specialty insurance products.
- National Indemnity Company
- Founded: 1940
- Services: Offers a wide range of insurance products, including commercial auto and general liability insurance.
- Berkshire Hathaway GUARD Insurance Companies
- Services: Provides business insurance, including workers’ compensation, commercial property, and liability coverage.
Key Features and Strengths
- Financial Stability: Berkshire Hathaway’s insurance businesses are known for their strong financial stability and significant capital reserves.
- Diversified Insurance Portfolio: The company offers a wide range of insurance products, from auto insurance to specialty reinsurance, catering to diverse customer needs.
- Customer Service: Known for excellent customer service, especially through GEICO, which has a strong online presence and user-friendly services.
Financial Performance
Berkshire Hathaway’s insurance operations significantly contribute to its overall revenue. The insurance subsidiaries generate float—money that is held by the insurer until claims are paid—which Warren Buffett invests to generate additional income.
How to Get Insurance from Berkshire Hathaway
If you are looking to purchase insurance from Berkshire Hathaway, you can visit the specific insurance company’s website (e.g., GEICO for auto insurance) or contact an insurance agent representing Berkshire Hathaway insurance products.