Berkshire Hathaway was founded by Oliver Chace in 1839.
It is an American multinational conglomerate, headquartered in Omaha, Nebraska, United States. It provides insurance services both on reinsurance and primary basis. The group includes companies like General Re, Berkshire Hathaway Primary Group, GEICO, and Berkshire Hathaway Reinsurance Group. The CEO is Warren Buffet. It employees 316000 people. Berkshire Hathaway, Inc. engages in diverse business activities including casualty and property insurance and reinsurance, freight rail transportation, utilities and energy, finance, manufacturing, retailing and services. Its business activities are conducted through foreign and domestic-based insurance entities.
Warren Buffet, transformed the old textile company into the insurance industry and other investments. Berkshire ventured into the insurance business after purchasing National Indemnity Company. It acquired an equity stake in Government Employees Insurance Company (GEICO) in 1970 and it is the major part of the insurance business for Berkshire today. Berkshire acquired General Re in 1998, which conducts global reinsurance business in life/health and property/casualty for the group. Berkshire acquired NRG, Dutch life Reinsurance Company from ING Group in 2007. Berkshire Hathaway reinsurance provides bond insurance for municipal and state bonds. The company ranks at 5th position in the Forbes global 2000 list for 2015.
It is ranked 1 on the basis of market capitalization of $354.8 B.