Berkshire Hathaway : Everything you need to know

Berkshire Hathaway Inc. is a US holding company with global insurance and reinsurance operations through brands like Gen Re.  

Its Berkshire Hathaway Reinsurance Group (BHRG) reported $2.7 billion in pre-tax underwriting profit in 2024. This includes P&C premiums reaching $21.9 billion and life and health premiums at $5 billion. 

History of Berkshire Hathaway 

The firm's roots trace back to 1839 with the founding of Valley Falls Company, a textile manufacturer in Rhode Island. In 1955, it merged with Hathaway Manufacturing to form Berkshire Hathaway Inc.  

Warren Buffett began purchasing shares in the early 1960s and gained control in 1965, shifting the company's focus from textiles to insurance and investments. Other key milestones in their history include: 

• 1967: Berkshire Hathaway acquired National Indemnity Company and entered the insurance industry 
• 1985: the company closed its last textile mill and left manufacturing behind 
• 1996: it bought the remaining shares of GEICO and grew its insurance business 
• 1998: the firm acquired General Re to build up its reinsurance reach 
• 2009: it purchased BNSF Railway, a major freight railroad across North America 

In 2025, Warren Buffett announced he would step down as CEO at the end of the year. He named Vice Chair Greg Abel as his successor. This marked a major leadership change. 

Reinsurance products and services 

Berkshire Hathaway offers a wide range of reinsurance solutions through its subsidiaries, serving clients worldwide: 

• property and casualty reinsurance: covers risks like natural disasters and liability claims 
• life and health reinsurance: provides coverage for life insurance and health-related risks 
• retroactive reinsurance: assumes liabilities from past insurance policies 
• structured settlement annuities: offers periodic payments for injury or lawsuit settlements 
• catastrophe excess-of-loss reinsurance: protects insurers from significant losses due to catastrophic events 
• quota share reinsurance: shares a fixed percentage of premiums and losses with insurers 
• facultative reinsurance: provides coverage for specific individual risks 

These reinsurance services are managed through Gen Re, BHRG, and Berkshire Hathaway Life. Their financial strength, specialty focus, and global reach make them a dependable partner for complex risk coverage. 

Culture and core values 

Berkshire Hathaway values honesty, long-term results, and independent thinking across its businesses. Subsidiaries follow a hands-off structure, allowing local leaders to shape team culture and success: 

Workplace culture and employee benefits 

At firms like Berkshire Hathaway Homestate Companies (BHHC) and GUARD Insurance, employees describe the culture as stable, respectful, and growth-focused.  

Training paths, internal promotions, and flexible setups support long careers with the company. Some of the top benefits listed across its subsidiaries include: 

• health and wellness coverage: low-cost medical, dental, and vision plans 
• retirement plans: 401(k) with company matching 
• PTO options: vacation, sick, and personal days 
• support programs: counseling and family resources 
• professional development: training, promotion paths, and tuition help 
• income protection: life and disability insurance 
• flexibility and balance: hybrid roles and compressed workweeks 

These benefits show how Berkshire supports its people beyond the workplace. The culture remains consistent even as each firm operates with its own leadership. 

Team-led inclusion and equity practices 

Berkshire Hathaway’s subsidiaries shape their own inclusion efforts based on their teams and workplace goals. BHHC, for example, fosters a culture where employees feel a strong sense of belonging. 

Even without corporate-level mandates, many companies focus on inclusion through direct, community-based action. These efforts often include: 

• employee resource groups (ERGs): create spaces for shared identity, heritage, and experiences 
• inclusive hiring efforts: build balanced teams with outreach and bias-free screening 
• community outreach: link employees with service projects and local partnerships 
• diversity awareness sessions: share knowledge on culture, equity, and respectful workplace behavior 
• manager guidance: train leaders to support inclusive, people-first teams 

These actions show how their companies connect with the people and places they serve. Inclusion is local, practical, and shaped by the values of each team. 

Charity programs across Berkshire Hathaway companies 

Many subsidiaries support local causes through foundations like The Charitable Foundation and Kindness Foundation. These efforts often back education, health, and community programs across the regions they serve. 

The future at Berkshire Hathaway 

The company faced over $1.3 billion in losses from wildfires in Southern California. Its reinsurance unit absorbed much of the impact from these 2025 events. In response, it scaled back property coverage in high-risk wildfire zones. 

Berkshire Hathaway’s reinsurance units posted strong gains despite market and climate challenges. Solid underwriting helped boost overall insurance earnings by over 60 percent in one year. Their success reflects a clear mission to grow value, stay disciplined, and lead through risk expertise