Berkshire Hathaway Enlarges Footprint In Australia

Warren Buffett's Berkshire Hathaway is enlarging its operations in Australia by entering the healthcare underwriting market there. The insurer also indicated that it will start underwriting new business in New Zealand.

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Berkshire Hathaway's push to grow in APAC region

Warren Buffet has been working on expanding insurance coverage around the globe due to rising competition in the reinsurance industry. His firm owns Berkshire Hathaway Specialty Insurance Company, which opened its doors in Sydney last March. Buffett hired four executives from AIG in 2013 to begin BHSI, which has operations in several regions, including Hong Kong, Singapore, and Australia.

BHSI said it would...