Berkshire Hathaway's $9.8 Billion Reinsurance Deal With AIG Will Boost Premiums and Float
In a positive bit of news for wide-moat-rated Berkshire Hathaway's reinsurance operations, which continue to be negatively affected by a reinsurance market that has too much capacity (with pricing inadequate for the risks being assumed), the firm announced a major deal with AIG to assume the risks associated with certain U.S. commercial policies written by the latter firm prior to 2016. The $9.8 billion consideration for this agreement is payable in full by the end of June 2017, with AIG agreein...Berkshire Hathaway is a holding company. Co.'s subsidiaries are engaged in several business activities which include: underwriting private passenger automobile insurance; operation of a railroad system in North America; regulated electric and gas utility; manufacturing of products including industrial, consumer and building products; wholesale distribution of groceries and non-food items; provider of services including aviation pilot training, electronic components distribution and retailing businesses, including automotive dealerships; and manufactured housing and related consumer financing, transportation equipment, manufacturing and leasing, and furniture leasing.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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