Nick Martin, co-manager of the Polar Capital Global Insurance fund, explains the draw of the non-life insurance industry.
Mention the word insurance and most people’s reaction is a tale of woe of when they last made a claim, or the vast amount of unintelligible literature given with any life assurance policy. However, for some astute investors the non-life insurance industry has been the bedrock on which fortunes have been built. Take Warren Buffett’s Berkshire Hathaway. Berkshire first entered the insurance industry in 1967 and today owns some of the best non-life insurers in the world including GEICO, the third largest US auto insurer. Insurance has been the powerhouse that has driven Berkshire and ...
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