AmWINS Group Inc. said Tuesday that it has secured backing from Berkshire Hathaway International Insurance Ltd. for its London-based managing general agent, Unicorn Underwriting, to write its motor fleet business.
Berkshire Hathaway will provide a “substantial long term commitment,” said an AmWINS spokesman in an emailed statement.
Unicorn will initially focus on its specialist motor fleet business; this includes passenger and road transport industries based in the U.K. The firm has plans to add new lines of business over time, Unicorn said in a statement.
“We are delighted to partner with such a highly respected firm as Berkshire Hathaway International Insurance Ltd. in this new venture. AmWINS' objective is to identify opportunities in specialist sectors where our expertise and relationships can make a genuine difference. We are now ideally placed to make just such a difference in this sector and look forward to announcing further underwriting team developments in due course,” AmWINS CEO Steve DeCarlo said in the statement.
Berkshire Hathaway Specialty Insurance Co. said Wednesday that it has established a medical stop-loss division based in Irvine, California.