BOSTON—Berkshire Hathaway Specialty Insurance has undeniably caused a stir in the insurance industry due to the name it carries, and the name of its ultimate owner, as well as the recognizable names of a foursome of its highest executives, having defected together from American International Group.
However, in speaking with BHSI President Peter Eastwood, the 6-month-old BHSI plans an aggressive yet responsible entry into targeted lines of business—diving in rather than doing a “cannonball” into the sea of the marketplace. Nevertheless, both create waves.
From his office on the highest floor of the insurer's State Street, Boston office, Eastwood—not long ago the head of AIG's P&C business in the Americas—tells PC360 that while it's true BHSI was “instantly relevant from a risk taking stand-point” due to the capital base of the Berkshire Hathaway group of insurance companies—owned by billionaire Warren Buffett—he and his team do not take that for granted, and are working hard to win the support of brokers and customers.
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