$3.4bn 2005 windstorm losses blunt Berkshire Hathaway’s risk appetite
In his annual letter to shareholders, the chairman of reinsurer Berkshire Hathaway, Warren Buffett, has revealed that his company took $3.4bn in hurricane losses in 2005 and will be seeking much higher prices for Cat business in 2006.
Buffett said that both the General Re and National Indemnity units “performed well” in 2005 considering the extraordinary hurricane losses that battered the industry and added that he was growing more
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