Ariel Re receives investment and long-term underwriting commitment from Berkshire Hathaway

National Indemnity Company, a wholly-owned subsidiary of Berkshire Hathaway, has expanded its “strategic alignment” with reinsurer Ariel Re.

The company has invested in Ariel Re new Convertible Notes and extended its underwriting commitment to Ariel Re’s Syndicate 1910 at Lloyd’s via a multi-year quota share reinsurance arrangement.

Ariel Re was acquired from Argo Group by private equity investors Pelican Ventures and J.C. Flowers & Co. in 2020.

“This long-term strategic partnership with the Berkshire Hathaway Reinsurance Division will add tremendous value to Ariel Re and our ability to continue investing, innovating and enhancing our client product solutions and services. We plan for Berkshire Hathaway to be our long-term, cornerstone strategic partner as we build and expand Ariel Re’s underwriting capacity with other high-quality, long-term partners.” – Jim Stanard, Chairman of Ariel Re.

“We are extremely pleased to have a partner of Berkshire Hathaway’s caliber and reinsurance insight endorse the Ariel Re team.” – Eric Rahe, managing director and co-president of J.C. Flowers & Co.

“We have welcomed the opportunity to work with the Berkshire Hathaway Reinsurance Division team over this past year as a key partner and capital provider. Their insights on global macro trends and creative solutions have been very valuable to us and we look forward to working with them for years to come.” – Ryan Mather, Ariel Re’s CEO.