Berkshire Hathaway Specialty Insurance (BHSI) today announced that Louise Kidd has joined its growing European team as Head of Third Party Lines in Ireland.

“As our Irish team continues to expand, we are delighted to have Louise leading our efforts to bring proven underwriting acumen and service to the third-party risks of customers throughout Ireland,” said Hilary Browne, Country Manager, Ireland, and Head of Casualty, UK & Europe. “Her deep expertise in both Executive & Professional and Casualty Lines will fuel our ongoing growth and lasting partnerships with customers and brokers in the region.”

Louise comes to BHSI with nearly two decades of industry experience with a focus on third-party lines. She was most recently Financial Institutions and Commercial Professional Indemnity Underwriting Manager for AIG in Europe. Prior to that she held various positions including Head of Financial Lines Ireland. She holds an honours degree in Financial Services from John Moore Liverpool University and a Diploma in Company Direction from the Institute of Directors.

Louise is based in BHSI’s Dublin office and can be reached at louise.kidd@bhspecialty.com

In Europe, Berkshire Hathaway Specialty Insurance (BHSI) trades under Berkshire Hathaway European Insurance DAC (BHEI) and Berkshire Hathaway International Insurance Limited (BHIIL). BHEI, is an Irish domiciled Designated Activity Company, Registration Number 636883 and Registered Office at One Grant’s Row, Dublin D02 HX96. BHEI is an affiliate of Berkshire Hathaway Specialty Insurance Company (BHSIC), a Nebraska USA domiciled corporation, which provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident and health, medical stop loss, homeowners, and multinational insurance, and is a subsidiary of Berkshire Hathaway International Insurance Limited (BHIIL), an incorporated England and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4th Floor, London EC3M 4AJ, United Kingdom.

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A foundation controlled by Berkshire Hathaway Vice Chair Ajit Jain sold $1.5 million of shares. It’s the foundation’s second sale so far in 2020.


Daniel Acker/Bloomberg

Both classes of

Berkshire Hathaway

stock are in the red for the year, and a foundation controlled by Vice Chairman Ajit Jain recently sold shares.

Berkshire Hathaway’s (ticker:

BRKb

) class A and B shares have year-to-date losses of 4.7% and 4.8%, respectively. By comparison, the

S&P 500 index,

a broad measure of the market, has gained 7.6% so far in 2020.

Berkshire Hathaway, helmed by legendary investor
Warren Buffett
, has trailed the market in recent years. We noted in February that an investor who put $1,000 in Berkshire Hathaway stock in 1965 would have $20 million, against $175,000 for a similar investment in the S&P 500—despite Berkshire Hathaway’s underperformance to the S&P 500 in the last decade. A high-profile recent misstep was an investment in Kraft Heinz (KHC) stock, which tumbled last year after the company took $15 billion in writedowns, slashed its dividend, and provided disappointing financial forecasts.

The Jain Foundation sold 7,000 class B Berkshire Hathaway shares on Sept. 30 for $1.49 million, an average per-share price of $213. The foundation now owns 185,095 class B shares, according to a form it filed with the Securities and Exchange Commission.

Jain and his wife Tinku are chairs of the foundation, which he established in the hopes of curing dysferlinopathy, which afflicts their son.

The foundation declined to comment on the stock sale, and didn’t make Ajit Jain available for comment. Berkshire Hathaway didn’t respond to a request to make Ajit Jain available for comment.

The Jain Foundation also sold Berkshire Hathaway stock earlier this year. On July 1, it sold 5,600 class B shares for $995,316, a per-share average

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Definition:

Insurance companies have started adopting digital technologies to help and strengthen customer relationship by providing new offers and services. This transformation will lead to new revenue opportunities also. However, many Insurance companies are yet to capitalize and develop business strategies. Digital platforms allow personalization and strengthen connections with customers by providing new offers and services. This platform also provides customers with access to deeper insights from data analytics, and applies it to new business models to reduce risk and fraud, and improve segmentation and reduce fraud. There is a demand to fix traditional business models, cost reduction, increased efficiency, and a rise in profit margin which is driving the global digital innovation in the insurance market.

Market Drivers

  • Insurers Investing in Building Digital Infrastructure
  • Need to Overhaul Traditional Business Model

Market Trend

  • Implementation of Smart Watches and Wearables
  • Deployment of Telematics and Speech Recognition
  • Block Chain Technology and Robotic Process Automation in Digital Insurance

Restraints

  • Formidable Cultural Barriers May Hamper the Market Growth
  • Cost Factor Associated with