Aug 13 Berkshire Hathaway Inc has hired
two senior executives from American International Group Inc's
Asia operations to boost its insurance business in the
region, the Wall Street Journal reported citing people familiar
with the matter.
Berkshire Hathaway has hired Marc Breuil, who headed AIG's
country operations in Hong Kong and Taiwan, and Marcus Portbury,
regional head of casualty for the Asia Pacific region, the Wall
Street Journal said. (on.wsj.com/1ytYaWD)
Last year, Berkshire established its U.S. commercial
insurance business - Berkshire Hathaway Specialty Insurance, a
group company that underwrites property, casualty, professional
and executive liability insurance and programs.
Berkshire Hathaway Specialty Insurance is applying for
licenses to regulators in Sydney, Hong Kong, Singapore and
Europe as well as recruiting talent, including from
already-established rivals, the report said.
The company has been expanding its operations and moving
beyond its core reinsurance operations. In July, it entered the
fiduciary insurance business and hired AIG's vice president for
fiduciary liability, Rhonda Prussack.
Representatives at AIG and Berkshire Hathaway Specialty
Insurance did not immediately respond to Reuters' requests for
(Reporting by Ankush Sharma in Bangalore; Editing by Gopakumar