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Berkshire Hathaway, Marsh Reach Quota Share Energy Deal
Copyright 2010 A.M. Best Company, Inc.All Rights Reserved BestWire
February 25, 2010 Thursday 10:29 AM EST
103 words
Berkshire Hathaway, Marsh Reach Quota Share Energy Deal
Robert O'Connor
LONDON
Berkshire Hathaway has agreed to take a 10% slice of Marsh's London-based offshore and onshore energy cover through a quota share arrangement.Marsh confirmed the deal, describing it as "a unique market facility for energy business around the globe." Berkshire Hathaway did not return a telephone call seeking comment."This facility combines the best of Marsh's global distribution with Berkshire Hathaway Group's secure capital commitment," Marsh said in a statement. "Both firms see this development as adding tremendous value to buyers of energy insurances."(By Robert O'Connor, London editor: [email protected])
February 26, 2010
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