Boston, MA 08/13/2014 (wallstreetpr) – People haven’t been able to trust insurance companies since 2009 when recession took place, and a lot of insurance companies became bankrupt. Although a decent return and security are guaranteed by the company, but still people don’t want to invest in insurance products. Because of this passive behavior from public, the insurance companies are trying their best to gain customers’ trust once again. One of the well known insurance service provider company Berkshire Hathaway Inc. (NYSE:BRK.A) has decided to hire two senior professionals of American International Group Inc. (NYSE:AIG) in order to make its insurance business attractive. Both of these senior professionals will head BRK’s Asia region and try to make insurance the most profit generating vertical for the company.
Details of Appointment:
According to reports, Berkshire Hathaway Inc. (NYSE:BRK.A) has decided to hire two senior employees of AIG. One of them is Marc Breuil who earlier headed country business of AIG in Taiwan and Hong Kong. He had an excellent track record and known as a go-getter insurance professional. The second senior executive hired by Berkshire is Marcus Portbury. He was the regional head casualty for Asia Pacific region in AIG. He comes with a 100% track record.
Berkshire Hathaway Inc. (NYSE:BRK.A) established its US insurance business last year and started a few verticals like casualty, underwriting property, executive and professional liability insurance, etc. The company needed experienced professionals to run Berkshire Hathaway Specialty Insurance in US, and it found Marcus Portbury and Marc Breuil ideal for that role. The company is trying to get insurance licenses in countries like Sydney, Singapore, Hong Kong and Europe. For the same cause, it has started recruiting talented people from rivals in all these countries. Recruitment of Marcus and Marc is a part of this process.
Berkshire Hathaway Inc. (NYSE:BRK.A) is known for reinsurance services in all over the world, but it is now trying to go beyond its specialties. Recently it entered in fiduciary insurance business and for that it hired none other than Rhonda Prussack; Vice President, fiduciary liability of AIG.