by John Darer® CLU ChFC MSSC RSP CLTC
At the recent Berkshire Hathaway annual meeting when questioned about Berkshire Hathaway's position in structured settlements, Warren Buffet underscored the company's support for structured settlements, saying that "more people want to put their structured settlements with Berkshire Hathaway than anyone else". Buffet estimated that Berkshire takes in about $20-30 million every week in structured settlement premium. Berkshire has been the leading structured settlement writer by volume for past 4 years.
Check out this video from the Berkshire Hathaway annual meeting where Warren Buffet underlines his support for structured settlements and the company's longstanding appetite for long tail business.
Warren Buffet is an American business magnate, investor, and philanthropist. He is considered by some to be one of the most successful investors in the world, and as of March 2017 is the second wealthiest person in the United States with a total net worth of $78.7 billion Buffett has been the chairman and largest shareholder Berkshire Hathaway since 1970, and his business exploits have had him referred to as the "Wizard", "Oracle" or "Sage" of Omaha by global media outlets [ Source: Wikipedia]
Berkshire Hathaway participates in the structured settlement market through several operating subsidiaries:
Berkshire Hathaway Life Insurance Company of Nebraska
First Berkshire Hathaway Life Insurance Company (in New York)
National Indemnity Company
Qualified Assignment Company
BHG Structured Settlements, Inc.
Guarantor on structured settlement obligations assigned by way of a qualified assignment to BHG Structured Settlements
Columbia Insurance Company
Berkshire Hathaway's commitment to structured settlements extends to existing structured settlement annuitants who may find themselves in dire financial straits and staring down a barrage of JG Wentworth commercials as well as similar commercials and solicitations of other cash now pushers. Berkshire Hathaway aggressively counter offers any offering by cash now pushers, much to the latters' chagrin.