Berkshire Hathaway said it will acquire Applied Underwriters and all of its subsidiaries, including its North American casualty insurance companies.
Terms of the transaction were not disclosed.
Applied Underwriters will continue to be managed by its founders, chief executive officer Sidney Ferenc and president Steven Menzies, as well as the rest of its current management team.
The company will remain based in San Francisco with its national operation center with Berkshire Hathaway in Omaha, Neb.
Applied, a privately held company, provides business insurance for a wide range of companies with a focus on crafting workers' compensation and business service policies for small and medium-sized enterprises.
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