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: Robert.OConnor@ambest.com)

February 26, 2010

Copyright © 2010 LexisNexis, a division of Reed Elsevier Inc. All Rights Reserved.
Terms and Conditions Privacy Policy