What Are The Three Insurance Companies Owned By Berkshire Hathaway?
What Are the Three Insurance Companies Owned by Berkshire Hathaway?
Introduction
Berkshire Hathaway is a multinational conglomerate holding company based out of Omaha, Nebraska. It is one of the largest companies in the world based on market capitalization and one of the most successful in terms of financial performance. It is also well-known for its diverse portfolio, which includes ownership of a number of insurance companies. In this article, we'll take a look at the three insurance companies owned by Berkshire Hathaway.
GEICO
The first of the three insurance companies owned by Berkshire Hathaway is GEICO, or Government Employees Insurance Company. GEICO is one of the largest auto insurance companies in the United States, providing coverage to more than 23 million customers. It is well-known for its advertising campaigns featuring the GEICO gecko and its slogan, “15 minutes could save you 15% or more on car insurance.” Berkshire Hathaway has owned GEICO since 1996, when it purchased the company for $2.3 billion.
Gen Re
The second insurance company owned by Berkshire Hathaway is Gen Re, or General Re-Insurance Corporation. Gen Re is a reinsurance company, which means it provides insurance to other insurance companies. It is one of the largest reinsurance companies in the world, with operations in more than 40 countries. Berkshire Hathaway purchased Gen Re in 1998 for $22 billion.
Berkshire Hathaway Primary Group
The third insurance company owned by Berkshire Hathaway is the Berkshire Hathaway Primary Group. The Berkshire Hathaway Primary Group is a holding company made up of several smaller insurance companies, including Medical Protective, National Indemnity, and U.S. Liability Insurance. It is one of the largest providers of specialty insurance products in the United States. The company was founded in 1978 and was acquired by Berkshire Hathaway in 1999.
Conclusion
Berkshire Hathaway is one of the largest companies in the world and its portfolio includes ownership of three insurance companies. The first is GEICO, one of the largest auto insurance companies in the United States. The second is Gen Re, a reinsurance company that provides insurance to other insurance companies. The third is the Berkshire Hathaway Primary Group, a holding company made up of several smaller insurance companies. Together, these three companies provide Berkshire Hathaway with a significant portion of its income.