Berkshire Hathaway Specialty Insurance is making good on its pledge to expand in Asia, with news that it is jumping into the region’s Accident & Health insurance market.
The specialty insurance arm of Warren Buffett’s giant Berkshire Hathaway conglomerate plans to focus initially on broker-distributed Group Personal Accident and Business Travel products. Over time, plans call for a strategic expansion of more Accident & Health offerings.
BHSI hired a Chubb veteran to help fuel and guide the effort. Phillip Brain was most recently vice president, Accident & Health group manager, Asia Pacific for Chubb. Marc Breuil, president, BHSI, Asia, said his more than 20 years of experience in the insurance industry is very important to the insurer’s Asia expansion plans.
Brain “has extensive experience in all aspects of the A&H space, from product underwriting and innovation to technology,” Breuil said in prepared remarks. “With his leadership, we look forward to establishing an A&H team that will provide employees and employers throughout Asia with meaningful tailored solutions.”
Last November, BHSI began marketing new D&O liability and professional indemnity policies to commercial and financial firms in Asia.
BHSI has been investing major resources on growth in Asia, emerging markets and the U.S. Growth in Australia and New Zealand is also part of BHSI’s long-term plan.
In October, BHSI focused on its U.S. growth, with news that it hired veteran executives from Zurich, ACE, CNA and Catlin to beef up its U.S. underwriting capabilities.
The insurer is also branching out into Germany as part of a wider European growth push.