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Berkshire Hathaway taps Lloyd's veteran Tom Bolt

Berkshire Hathaway taps Lloyd's veteran Tom Bolt

Berkshire Hathaway International Insurance Ltd. said Thursday it has named Lloyd's of London veteran Tom Bolt to head a specialty insurance operation in Europe.

The unit of Omaha, Nebraska-based Berkshire Hathaway Inc. said it is launching a specialty insurance “solution” with its affiliate, Berkshire Hathaway Specialty Insurance Co., subject to regulatory approval.

The insurer said Mr. Bolt, who will be based in London, will assume the position of president and CEO of the U.K. and Southern Europe effective June 1.

In addition, Berkshire Hathaway said Gregor Koehler, who will be based in Cologne, Germany, has been named president of Northern Europe, effective immediately.

Both men will become members of Berkshire Hathaway International's board of directors, also subject to regulatory approval, the company said in a statement.

“Establishing European capabilities is a natural next step in the maturation of BHSI, and an important milestone in growing our global footprint,” Berkshire Hathaway Specialty President and CEO Peter Eastwood said in the statement. “We are pleased to have the top-caliber talents of Tom and Gregor to lead the efforts to build a team in the U.K. and Europe.”

Mr. Bolt late last year announced that he planned to leave as Lloyd's director of performance management.

He previously was managing director of Marlborough Managing Agency, and spent 25 years in a variety of senior executive roles at Berkshire Hathaway.

Mr. Koehler most recently was president and CEO of Leverkusen, Germany-based Pallas Versicherung A.G., the global insurance division of Bayer Group.