Berkshire Hathaway Reinsurance

$18B in net premiums via Gen Re and BHRG divisions. Warren Buffett's "float" strategy uses reinsurance premiums to fund a $350B investment portfolio. This model gives it a 40% lower cost of capital than the average top-tier reinsurer, outperforming #2 Munich Re America in underwriting cycle resilience. Berkshire can absorb catastrophe losses that would cripple other reinsurers, giving it a structural pricing advantage.