Switch back to WCC classic look

WorkCompCentral – Workers' Compensation Education, Courses, News and Information

Call or email us anytime
(805) 484-0333
Search Guide
Today is Tuesday, September 22, 2020 -

News Articles

Report: Applied Underwriters Sales Price Is $737 Million

  • National
  • Topic: NATIONAL
  • - Average time spent on item: 72 minutes
  • - Popular with: Insurance

Berkshire Hathaway is selling its stake in Applied Underwriters and a group of related companies for $737.1 million, according to a report last week from S&P Global Market Intelligence.

The sale, which Berkshire Hathaway confirmed in February, is expected to close by Sept. 30. After closing, a subsidiary of Cayman Islands-based United Insurance Co. will control Applied Underwriters Inc., according to the report, which cites documents released by the Iowa Insurance Department.

In another part of the deal, Steven Menzies, Applied Underwriters' co-founder, will control insurance companies including Applied Underwriters Captive Risk Assurance Co. Inc., California Insurance Co., Continental Indemnity Co., Illinois Insurance Co., Pennsylvania Insurance Co. and Texas Insurance Co. 

Previous news reports had identified United Insurance Co. as the Applied Underwriters buyer. An Applied Underwriters spokesman later described that information as “incomplete.”

Berkshire Hathaway bought Applied Underwriters in 2006, owning an 81% stake in the company, while AU management owned the other 19%.

No Comments

Log in to post a comment


Do not post libelous remarks. You are solely responsible for the postings you input. By posting here you agree to hold harmless and indemnify WorkCompCentral for any damages and actions your post may cause.

Featured Video

Upcoming Events

  • Sep 22, 2020

    NCSI 2020 Webinar Series

    Since our in-person meeting has been canceled we have shifted to a webinar series that will includ …

  • Sep 22-23, 2020

    The Path Forward: An Out Fron

    COVID-19 has forced the industry to make major adjustments and adaptations to the way we operate, …

  • Sep 23, 2020

    National Review Roundtable wit

    The National Association of Independent Review Organizations invites you to join us for a FREE web …

Workers' Compensation Events

Social Media Links

WorkCompCentral Workers' Compensation
News and Education
4081 Mission Oaks Blvd
Camarillo, CA 93012
(805) 484-0333