NU Online News Service, Feb. 28, 8:49 a.m. EST
Warren Buffett bemoaned the continued competition of the soft market, making a critical assessment of chief executives who pursue market volume over underwriting profit as Berkshire Hathaway's insurance business produced a profit of 38 percent.
In his annual letter to shareholders, Mr. Buffett, Berkshire's chairman and CEO, reviewed four disciplines it takes to have “a sound insurance operation”:
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