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Berkshire Hathaway backs motor fleet business

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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.