At a time when the reinsurance market is softening, Berkshire Hathaway Inc. says it is holding back reinsurance capacity until pricing improves.
In the company's second-quarter earnings report filed with the Securities and Exchange Commission, Berkshire says it has “generally constrained the volume of business written in recent years as premium rates have not been attractive enough to warrant increasing volume.”
The company added that it has the capacity and desire “to write substantially more business when appropriate pricing can be obtained.”
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