A gem of a company

Berkshire Hathaway subsidiary National Indemnity Company, aka NICO, has agreed to acquire New York’s largest underwriter of medical professional liability insurance Medical Liability Mutual Insurance Company, better yet MLMIC, cause life is short. Warren Buffett says MLMIC is “is a gem of a company”. MLMIC says, now is as good time as ever to seek A.M. Best rating. Bottom Line: the world has lost a mutual as MLMIC, which is a mutual insurance company, will have to transform into a stock company.