Berkshire Hathaway Completes Acquisition of Applied Underwriters.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. & SAN FRANCISCO -- Berkshire Hathaway (NYSE NYSE See: New York Stock Exchange :BRK.A) (NYSE:BRK.B) today announced the successful completion of its acquisition of Applied Underwriters (www.applieduw.com), the industry leader in integrated workers' compensation solutions and all of its subsidiaries -- including its North American Casualty insurance companies. "As anticipated, our new relationship with Berkshire Hathaway is generating positive market-place responses and exciting growth opportunities for our businesses, our managers and employees, and our independent agent network," noted Applied Underwriters' Chairman and Chief Executive Officer, Sidney R. Ferenc. "Warren Buffett is recognized and respected worldwide for his business acumen and for his proven ability to choose market winners," Ferenc added. "Our clients, business partners and employees are proud to be part of the Berkshire Hathaway companies." "We're delighted to have completed all the regulatory and legal requirements necessary to finalize our new partnership with one of America's best managed and most successful businesses," added Steven Menzies, Applied Underwriters' President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We're pleased to be officially part of the Berkshire Hathaway family of businesses, and we look forward to a long and mutually rewarding partnership." Applied Underwriters provides business insurance solutions for a wide range of companies, with specific expertise in crafting workers' compensation and business services solutions for small and medium-sized enterprises. Applied's products include SolutionOne(R) and EquityComp(TM). Founded in 1994 by Sidney R. Ferenc and Steven Menzies, it is headquartered in Foster City, California
The San Francisco Bay Area, colloquially known as the Bay Area or The Bay and has it main operations center in Omaha, Nebraska. Berkshire Hathaway and its subsidiaries engage in diverse businesses including property and casualty insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , utilities and energy, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , trading symbols BRK.A and BRK.B. |
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