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4-Traders Homepage  >  Equities  >  Nyse  >  Berkshire Hathaway Inc.    BRK.A

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Buffett's Berkshire Hathaway wins reinsurance licence in Malaysia

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01/17/2017 | 06:02am CET

Warren Buffett's Berkshire Hathaway (>> Berkshire Hathaway Inc.) has won a licence to provide reinsurance services in Malaysia, the billionaire investor's group said, as it expands operations in Asia.

Warren Buffett's Berkshire Hathaway (>> Berkshire Hathaway Inc.) has won a licence to provide reinsurance services in Malaysia, the billionaire investor's group said, as it expands operations in Asia.

Berkshire Hathaway Specialty Insurance Company (BHSI) said in a statement on Monday it has established an office in the Malaysian capital Kuala Lumpur to provide the non-life reinsurance services.

"After putting down roots in Singapore, Hong Kong, and Macau, we are pleased to further expand our operations in Asia...," BHSI Asia President Marc Breuil said in the statement.

The southeast Asian nation has attracted several insurers lately, who are eyeing its long-term potential. Canada's Sun Life Financial Inc (>> Sun Life Financial Inc) and Malaysian sovereign wealth fund Khazanah Nasional [KHAZA.UL] were in talks to buy Hong Leong Financial Group Bhd's (>> Hong Leong Financial Group Berhad) insurance business, Reuters reported last year.

Reuters also reported that Tokio Marine Holdings Inc (>> Tokio Marine Holdings Inc) was in exclusive talks to buy RHB Bank's (>> RHB Capital Bhd) general insurance unit.

BHSI is part of Berkshire Hathaway's National Indemnity group of insurance companies. National Indemnity has $194.4 billion in total admitted assets and $112.2 billion in policyholder surplus, according to BHSI's website.

(Reporting by Liz Lee; Editing by Muralikumar Anantharaman)

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Financials ($)
Sales 2016 221 421 M
EBIT 2016 15 177 M
Net income 2016 22 773 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 18,57
P/E ratio 2017 21,63
Capi. / Sales 2016 1,80x
Capi. / Sales 2017 1,74x
Capitalization 397 910 M
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Number of Analysts 3
Average target price 267 333 $
Spread / Average Target 10%
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NameTitle
Warren Edward Buffett Chairman & Chief Executive Officer
Marc D. Hamburg Chief Financial Officer & Senior Vice President
Charles Thomas Munger Vice Chairman
David Sanford Gottesman Independent Director
Walter Scott Independent Director
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