Berkshire CEO Warns of Competitive Insurance Environment
CEO Greg Abel says Berkshire Hathaway faces rising insurance competition as new capital enters the market. Revenue grew to $81.1 billion in a benign period.
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BERKSHIRE HATHAWAY INC-CL A CEO Greg Abel told investors in the United_States that insurance pricing is softening despite Q1 revenue rising to $81.1B. Revenue grew from $77.6B a year earlier during a period without major catastrophes like wildfires or hurricanes. New capital entering the market is squeezing margins, forcing Berkshire to adopt a more cautious underwriting approach.
