The insurance giant Berkshire Hathaway has its head office in Wilkes-Barre, Pennsylvania. They employ over 950 people across the country and have over $2 billion in written premiums, being one of the most financially stable companies around. Read on to know more about Berkshire Hathaway Truck Insurance.
AM Best has given Berkshire Hathaway GUARD Insurance Companies the top rating of A+ for its superior ability to meet customers' insurance needs. The reason for the positive rating is that BRK has the ability to pay claims on time. Customers can expect Berkshire Hathaway to have the cash reserves needed to fulfill their financial obligations, which makes this an important factor in evaluating any insurance company before purchasing a policy.
Fitch Ratings has given Berkshire Hathaway Inc.'s key insurance subsidiaries' 'AA+' in Insurer Financial Strength ratings. Their Long-Term Issuer Default Rating (IDR) also stands at ‘AA-”, with their senior unsecured debt at ‘A+’. Given all these, Fitch Ratings’ outlook for the company is Stable.
However, according to Fitch Ratings, the pandemic situation can affect BRK's performance and related economic volatility. However, their diversified business profile along with a history of operating success make them well prepared for potential adversity.
Extremely strong risk-based capitalization in the insurance activities, as measured by Fitch's Prism capital model, further helps BRK's ratings. Financial flexibility and liquidity are also important rating factors, as BRK has excellent access to capital markets and considerable cash and cash equivalents holdings.
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