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Berkshire Hathaway announces $1.5bn Q3 reinsurance cat hit

November 8, 2021

The reinsurance business of Warren Buffet-owned holding company Berkshire Hathaway has announced $1.5 billion in catastrophe-driven losses and loss provisions for 2021’s third quarter, a figure that rises the firm’s overall losses and loss adjustment expenses by $442 million against the prior year quarter.

Overall 9M cat losses of $1.9 billion are attributable to Hurricane Ida, European flooding and Winter Storm Uri.

Meanwhile, estimated losses attributable to significant catastrophes in 2020 stand at $300 million and are derived from Hurricanes Laura and Sally.

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