https://www.ft.com/content/809c661a-b9cb-476b-8c63...

Part 2 of the series. This time on insurance and the involvement or Mr. Jain.

"In early 2023, Ajit Jain was weighing Berkshire Hathaway’s exposure to the risk of a devastating hurricane hitting Florida. If its insurance business took on more cover and the upcoming season proved tame, Berkshire would reap a multibillion-dollar windfall. The downside? A potential $15bn in losses if it turned into an ugly year for natural catastrophes. Jain sought permission from his boss, Warren Buffett, to increase the bet. “Warren said yes without even listening to what the numbers were,” Jain recounted to shareholders at Berkshire’s annual meeting last year. With the season ending up a mild one, the decision helped propel the insurance business to one of the best underwriting profits in its history".

Berkshire Hathaway FAQ

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