Berkshire Hathaway Insurance Group Announces the Formation of Berkshire Hathaway European Insurance DAC
BOSTON & LONDON & DUBLIN--(BUSINESS WIRE)--Mar 5, 2019--Berkshire Hathaway Insurance Group today announced that Berkshire Hathaway European Insurance DAC (BHEI) has been granted a Certificate of Authorization by the Central Bank of Ireland to operate as an insurer in Ireland and the European Economic Area (EEA). Incorporated in the Republic of Ireland and based in Dublin, BHEI will operate as a Designated Activity Company, providing service to the company’s customers and brokers in Ireland and, using European freedom of services rights, across the EEA. BHEI will be the insurance company utilized by a number of Berkshire Hathaway’s insurance brands operating in the EEA, including Berkshire Hathaway Specialty Insurance, MedPro, and Faraday.
Where necessary or required, EEA business previously transacted through BHEI’s UK based direct parent Berkshire Hathaway International Insurance Limited (BHIIL) will be transferred from BHIIL to BHEI, in accordance with applicable law, to achieve a smooth transition for its customers and brokers upon the UK leaving the European Union. BHIIL, however, will continue to operate its significant general insurance business in the UK market and overseas under its existing licenses. BHEI intends to commence writing business by the end of March 2019.
In the EEA, Berkshire Hathaway European Insurance DAC is incorporated in the Republic of Ireland as a Designated Activity Company and is a wholly owned subsidiary of Berkshire Hathaway International Insurance Limited (BHIIL), an incorporated England and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4 th Floor, London EC3M 4AJ, United Kingdom. BHIIL is an affiliate of each of Berkshire Hathaway Specialty Insurance Company ( www.bhspecialty.com ), MedPro Group ( www.medpro.com ) and Faraday Group ( www.faraday.com ).
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JoAnn Lee / +1 617-936-2937
KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA MASSACHUSETTS IRELAND
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: Berkshire Hathaway Insurance Group and Berkshire Hathaway Specialty Insurance
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PUB: 03/05/2019 05:00 AM/DISC: 03/05/2019 05:01 AM