If it closes, the transaction would intensify Berkshire Hathaway's market share in medical professional liability and "other liability" lines, NAIC data indicates. (Credit: Lightspring/Shutterstock.com)
In an all-cash deal valued at approximately $11.6 billion, Berkshire Hathaway Inc. is moving to acquire Alleghany Corporation. The transaction has already received unanimous approval from both companies' boards and is anticipated to close during 2022's final quarter, the acquiring firm reports.
"Berkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years. Throughout 85 years the Kirby family has created a business that has many similarities to Berkshire Hathaway. I am particularly delighted that I will once again work together with my long-time friend, Joe Brandon," Warren E. Buffett, Berkshire Hathaway's chairman and CEO, said in a release.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
