Warren Buffett has a long and successful history in the insurance industry, and it has been a cornerstone ofBerkshire Hathaway‘s (NYSE: BRK-A)(NYSE: BRK-B) growth strategy since the 1967 acquisition of National Indemnity. In fact, Buffett specifically referred to the insurance industry as Berkshire’s “most important sector” in his latest letter to shareholders. Here’s a rundown of Berkshire’s insurance operations, and why Buffett loves the insurance business so much.
Berkshire Hathaway’s insurance businesses
Berkshire Hathaway has three main insurance subsidiaries and a collection of smaller companies that mainly write commercial coverages.