BRK

AM Best Affirms Credit Ratings of National Indemnity Company and Its Affiliates

Retrieved on: 
Thursday, March 28, 2024
Banking, Professional Services, Insurance, Finance, National Indemnity Company, BRK, ERM, ALL, News, FSR, Credit, Berkshire Hathaway, AM Best, Superior

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of National Indemnity Company (Omaha, NE) and its affiliates (collectively referred to as National Indemnity).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of National Indemnity Company (Omaha, NE) and its affiliates (collectively referred to as National Indemnity).
  • The ratings of National Indemnity reflect its balance sheet strength, which AM Best assesses as strongest, as well as its very strong operating performance, very favorable business profile and appropriate enterprise risk management (ERM).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best Affirms Credit Ratings of Berkshire Hathaway Homestate Insurance Company and Its Affiliates

Retrieved on: 
Thursday, February 22, 2024
Insurance, Professional Services, Superior, Berkshire Hathaway, ALL, FSR, Risk management, News, Growth, AM Best, Risk, BRK, Credit, Pressure

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Homestate Insurance Company (Omaha, NE) and its five property/casualty affiliates.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Homestate Insurance Company (Omaha, NE) and its five property/casualty affiliates.
  • The FSR of A++ (Superior) and the Long-Term ICR of “aa+” (Superior) have been affirmed with a stable outlook for Berkshire Hathaway Homestate Insurance Company and its following property/casualty affiliates:
    Cypress Insurance Company (San Francisco, CA)
    Oak River Insurance Company (Omaha, NE)
    Redwood Fire and Casualty Insurance Company (Omaha, NE)
    BHHC Special Risks Insurance Company (North Liberty, IA)
    Continental Divide Insurance Company (Denver, CO)
    This press release relates to Credit Ratings that have been published on AM Best’s website.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Affirms Credit Ratings of Finial Reinsurance Company

Retrieved on: 
Thursday, February 15, 2024
Insurance, Professional Services, Berkshire Hathaway, ERM, ICR, ALL, News, AM Best, Credit, Retirement, BRK, Good, National Indemnity Company

The ratings of Finial Reinsurance Company reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

Key Points: 
  • The ratings of Finial Reinsurance Company reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
  • Finial Reinsurance Company provides utility to the Berkshire organization by assuming select runoff liabilities from Berkshire affiliates, and an investment portfolio managed by Berkshire.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best Affirms Credit Ratings of Central States Indemnity Co. of Omaha and CSI Life Insurance Company

Retrieved on: 
Wednesday, October 25, 2023
Insurance, Professional Services, AM Best, NYSE, Credit, News, AM, CSI, Berkshire Hathaway, Berkshire, BRK, Superior, ALL, Cargo

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life).
  • CSI is a specialty insurance company, which provides credit card credit insurance and has fronting agreements with multiple insurers, in the aerospace and agricultural lines of business in several states.
  • CSI currently writes more non-credit insurance premiums on a gross basis compared with its long-standing credit insurance business.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

NJASAP TO HOST WALL STREET INFORMATIONAL PICKET ON THURSDAY, SEPT. 14

Retrieved on: 
Wednesday, September 13, 2023
Aircraft, Berkshire Hathaway, BRK, Fraction, Aviation, NetJets, Risk, Union, Transport, NYSE, Airline

NetJets pilots will earn, on average, 60% of what their peers at some low-cost carriers will earn across a 30-year career.

Key Points: 
  • NetJets pilots will earn, on average, 60% of what their peers at some low-cost carriers will earn across a 30-year career.
  • Rather than compete for talent, NetJets has opted to avert a hiring crisis by lowering minimum flight time standards.
  • Unsurprisingly, new hire pilot experience at NetJets has plummeted 77% since 2018 – a shift NJASAP attributes to the brand's decision to downplay the sustained pilot labor crisis.
  • NJASAP views this head-in-the-sand stance as unfathomable – especially when we stand ready to partner with management to recapture NetJets' former cache, benefiting all Berkshire Hathaway stakeholders.

Servotronics Completes Sale of Ontario Knife Company Assets to Blue Ridge Knives, Inc.

Retrieved on: 
Thursday, August 3, 2023
SVT, Intellectual property, BRK, Sale, Ontario Knife Company, ELMA, Wind, Advanced Technology Group, OKC-3S bayonet, OKC, NYSE American, NYSE, Retail, Servotron 9000

ELMA, N.Y., Aug. 3, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced it has closed the sale of assets associated with its Ontario Knife Company (OKC) business to Marion, Virginia based Blue Ridge Knives, Inc. (BRK).

Key Points: 
  • "We are pleased to take another step forward in our strategic plan with the sale of the Ontario Knife Company's assets.
  • Phil Martin, President of Blue Ridge Knives, Inc., commented, "We are excited to add the longstanding heritage and brands of Ontario Knife Company to the BRK portfolio.
  • Servotronics sold substantially all inventory, intellectual property, tangible personal property and goodwill of the Ontario Knife Company to Blue Ridge Knives for an aggregate purchase price of $2.1 million, subject to a post-closing adjustment based on inventory values.
  • The company plans to use the funds to invest in organic growth initiatives within its core Advanced Technology Group.

AM Best Affirms Credit Ratings of Berkshire Hathaway GUARD Insurance Companies’ Members

Retrieved on: 
Wednesday, July 26, 2023
Insurance, Professional Services, Berkshire Hathaway, Pressure, AM Best, BRK, ALL, Risk management, Berkshire Hathaway GUARD Insurance Companies, Credit, National Indemnity Company, Berkshire, NICO, Superior, Wilkes-Barre, Pennsylvania, AM, Var, News, NYSE

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company (Omaha, NE), which operate under an intercompany pooling agreement.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company (Omaha, NE), which operate under an intercompany pooling agreement.
  • These companies are members of Berkshire Hathaway GUARD Insurance Companies (GUARD) and are domiciled in Wilkes-Barre, PA, unless otherwise specified.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

NJASAP to host informational picket on Friday, July 14 at The 2023 Allen & Company Sun Valley Conference

Retrieved on: 
Friday, July 14, 2023
Aircraft, Berkshire Hathaway, BRK, Aviation, NetJets, Multimedia, Risk, Union, Transport, NYSE, Airline

• NetJets pilots will earn, on average, 60 percent of what their peers at some low-cost carriers will earn across a 30-year career.

Key Points: 
  • • NetJets pilots will earn, on average, 60 percent of what their peers at some low-cost carriers will earn across a 30-year career.
  • • Rather than compete for talent, NetJets has opted to avert a hiring crisis by lowering minimum flight time standards.
  • • NJASAP views this head-in-the-sand stance as unfathomable – especially when we stand ready to partner with management to recapture NetJets's former cache, benefiting all Berkshire Hathaway stakeholders.
  • Rather than compete for talent, NetJets has opted to avert a hiring crisis by lowering minimum flight time standards.

AM Best Affirms Credit Ratings of Members of MedPro Group

Retrieved on: 
Thursday, July 13, 2023
Professional Services, Insurance, Finance, AM Best, Legislation, BRK, ALL, Culture, Risk management, Fort Wayne, Indiana, National Indemnity Company, Credit, MedPro Group, MPL, Berkshire Hathaway, Superior, Issuer, AM, Princeton University, News, NYSE

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of the members of MedPro Group (MedPro).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of the members of MedPro Group (MedPro).
  • The ratings reflect MedPro’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

NJASAP set to host largest informational picket in Union history on Saturday, May 6 at 2023 Berkshire Hathaway Shareholders Meeting in Omaha

Retrieved on: 
Friday, May 5, 2023
Aircraft, Berkshire Hathaway, Aviation, NetJets, BRK, Transport, NYSE, Risk, Airline

NJASAP set to host largest informational picket in NetJets history during Berkshire Hathaway Meeting in Omaha on May 6.

Key Points: 
  • NJASAP set to host largest informational picket in NetJets history during Berkshire Hathaway Meeting in Omaha on May 6.
  • The NetJets Association of Shared Aircraft Pilots (NJASAP) represents the professional interests of the 3,000-plus pilots who fly in the service of NetJets Aviation, Inc., a Berkshire Hathaway (NYSE: BRK) (NYSE: BRK.A) subsidiary.
  • Informational picketing by as many as 1,000 NetJets pilots and their family members.
  • NJASAP views this head-in-the-sand stance as unfathomable – especially when we stand ready to partner with management to recapture NetJets's former cache, benefiting all Berkshire Hathaway stakeholders.