This quarter marks Greg Abel’s first letter to shareholders, and it notably reflects stability and a carefully coordinated leadership handoff. The message, released earlier this week, highlights the smooth shift from longtime CEO Warren Buffett, who stepped down at the end of 2025, to Greg Abel. Mr. Buffett will maintain the role of Chairman of the Board.
Abel opens by recognizing Mr. Buffett as “arguably the greatest investor of all time” and emphasizes how valuable he remains to the organization.
We are fortunate to have Warren as Berkshire’s Chairman, in the office five days a week, and available to us as we underwrite insurance, operate our non-insurance businesses, and deploy capital including equity investments. Warren also continues as an owner of Berkshire (although his shares will all go to philanthropy over the 10 years or so following his passing).
Throughout his introduction, Abel underscores Berkshire Hathaway Inc.’s longstanding culture and values. He describes them as essential to protect and pledges to remain a steward of those principles.
Abel reports a modest decline in operational earnings. Results totaled $44.5B in 2025 compared to $47.4B in 2024. The figure remains above the five-year average of $37.5B. He notes that the insurance operations “accomplished their fundamental goals: grow underwriting profits and float in a disciplined manner.”
Abel also points to weather-related impacts from 2025
Within the primary property and casualty insurance segment, where BHHC operates, Abel explains that the year began with strong demand and pricing that was stable or rising. As more capital entered the market, demand softened.
“We have always prioritized underwriting discipline over volume, and as pricing became less attractive, our premium growth plateaued,” Abel wrote. “We expect these primary insurance businesses to face continued headwinds in 2026, and potentially beyond.”
Despite a challenging environment, BHHC, including the BHHC P&C and Workers Compensation divisions, achieved 7.4 percent premium growth.
Abel attributes this resilience to the insurance group’s structural strengths:
Abel concluded that the market ahead will reward insurers with sustainable underwriting, strong customer trust, and operational resilience. He suggests that the coming decade will distinguish organizations that maintain discipline from those that rely on short-term opportunities. Structural advantages, including BHHC’s service-focused approach, will grow even more important as industry conditions become increasingly unpredictable.
This year the Berkshire Hathaway Inc. annual shareholders meeting on May 2, 2026, will feature Greg Abel in two Q&A sessions. One session will include Ajit Jain, Vice Chairman of Insurance Operations at Berkshire Hathaway Inc. The other will feature Katie Farmer, CEO of BNSF Railway, and Adam Johnson, president of Berkshire’s consumer products, services, and retailing group.
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of March 13, 2025), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
Coming in at #6, we are excited to announce that Berkshire Hathaway Inc. is ranked in the top 10 of the World’s Most Admired Companies list as determined annually by Fortune. Notably, Berkshire Hathaway Inc. maintained the 1st place ranking for our industry Insurance: Property & Casualty for the 21st consecutive year. The Berkshire Hathaway Homestate Companies are honored to be a part of the Berkshire Hathaway insurance group in support of our organization’s reputation and integrity through a culture of service.
This annual list rates firms on critical attributes to identify those with the strongest reputations among the world’s top executives. The rankings emerge from a survey of some 3,000 top executives and directors, along with financial analysts, that examines the companies that enjoy the strongest reputations within their industries and across industries.
Berkshire Hathaway Inc. has made the list before. In fact, since 1998, a 28-year streak, and for the Property & Casualty Insurance industry, since 2005, which is a 21-year streak. Being included as a part of the company that is named to this prestigious roster is an honor every single time. It says we’re innovative; provide high-quality products and services; are well-managed; are socially responsible; attract and retain talented team members; and are financially sound. All things that matter to our customers and to us. These are all things we strive to achieve every day.
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of March 13, 2025), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
Our schedule offers sessions with actionable strategies and expert insights to enhance your workplace safety program. This exclusive series is designed for BHHC policyholders and their teams. Whether you’re a Safety Manager, Supervisor, Employer, or Employee, these webinars are packed with actionable insights from our Loss Control experts. From industry best practices to tailored strategies for reducing risk, our sessions are crafted to empower you and your team to create safer, more productive workplaces.
Mark your calendars and get ready to dive into a year full of learning and safety innovation. Check out the 2026 Workplace Safety Webinar Series Calendar below and save the dates for the sessions you want to attend.
Log in to the BHHC Safety Center to register today.
|
Webinar Topic |
Date |
Recommended Audience |
|
Building a Safety-First Culture Leadership techniques to embed safety into organizational values and behaviors. |
January 13 | All welcome |
|
Return-to-Work Programs: Executive Strategy Executive Track: Designing Return-to-Work programs that balance compliance, cost, and compassion. |
January 27 | Supervisor, Safety Manager |
|
Observations and Inspections to Drive Accountability Using observations and inspection results to drive accountability and continuous improvement. |
February 10 | All welcome |
|
Integrating Safety into Operational Strategy Executive Track: Aligning safety goals with business performance and productivity. |
February 24 | Supervisor, Safety Manager |
|
Emergency Response and Crisis Management Crisis leadership, communication, and regulatory coordination. |
March 10 | All welcome |
|
Leading Through Safety Change Executive Track: Managing resistance and driving adoption of new safety initiatives. |
March 24 | Supervisor, Safety Manager |
|
Conducting Effective Safety Observations and Inspections Training supervisors to conduct safety observations and provide effective feedback. |
April 1 | All welcome |
|
Workers Compensation 101 Executive Track: What leaders need to know about workers compensation cost drivers, claims trends, and strategic controls. |
April 21 | Supervisor, Safety Manager |
|
Heat Illness Prevention for Leaders Policy development and oversight responsibilities in high-risk climates. |
May 5 | All welcome |
|
Mental Health & Safety Leadership Addressing psychological safety and mental health in the workplace. |
May 19 | All welcome |
|
Contractor Safety Management Executive responsibilities in managing third-party risk. |
June 9 | Supervisor, Safety Manager |
|
Safety Communication for Executives Executive Track: Crafting messages that resonate across all levels of the organization. |
June 23 | Supervisor, Safety Manager |
|
Best in Class: Staying Ahead of OSHA Proactive strategies for executives to anticipate, respond, and exceed regulatory requirements. |
July | All Employees |
|
Risk Identification and Strategic Mitigation Structure on how safety decisions are made- including risk-based decision making and strategic solutions to hazard control. |
July | Supervisor, Safety Manager |
|
Centralized vs Decentralized Safety Programs How to manage safety across diverse operations and geographies. |
August | Supervisor, Safety Manager |
|
Navigating Cal/OSHA vs. Federal OSHA Key differences and compliance strategies for California-based operations. |
August | All Employees |
|
Safety Incentives: What Works, What Backfires Designing recognition programs that reinforce safe behaviors. |
September | All Employees |
|
Safety Technology for Decision Makers Evaluating tech solutions like wearables, sensors, and AI for safety. |
September | Supervisor, Safety Manager |
|
Managing a Major Loss Source Multi-level planning and implementation of focused injury prevention efforts. |
October | Supervisor, Safety Manager |
|
Safety Budgeting & ROI Making the business case for safety investments. |
October | All Employees |
|
Safety in Mergers & Acquisitions Reducing losses and integrating safety programs during organizational transitions. |
November | Supervisor, Safety Manager |
|
Fleet Safety Oversight Strategies for managing vehicle-related risks. |
November | Supervisor, Safety Manager |
|
Learning from Losses Review of large losses and lessons learned. |
December | Owner, Supervisor, Safety Manager |
|
Building a Safety Dashboard: Using Safety Metrics that Matter Designing executive-level dashboards that drive action and insight. |
December | All Employees |
Visit our Safety Center to watch recordings of previous webinars and access valuable, specialized safety tools and resources.
Let’s make 2026 a year of enhanced safety, professional development, and success
In response to heavy rain that impacted Arizona in September and tropical storms in October, Gov. Katie Hobbs signed disaster declaration orders in three counties in the state.
The state issued a declaration of emergency for Gila and Mohave counties in September and for Gila and Maricopa counties in October. These declarations are in effect until January 27, 2026.
If your business is located in one of the declared emergency areas and was impacted by the weather events, you can contact BHHC Accounting to arrange payment plans or other accommodations.
Agents, please contact your Marketing Manager or Underwriter with questions about affected accounts.
Thank you for being a part of the BHHC Workers Compensation community.
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of March 13, 2025), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
We understand that the ongoing federal government shutdown may be creating financial uncertainty for many of our valued policyholders.
If you are impacted by the shutdown and are experiencing difficulty making your insurance payments, please reach out to us at [email protected]. We are committed to working with each policyholder on a case-by-case basis to provide flexible payment options where needed. Our goal is to support you during this challenging time with understanding and responsiveness.
Thank you for being a part of the BHHC Workers Compensation community.
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of March 13, 2025), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
In response to severe flooding in western Maryland, Gov. Wes Moore issued an executive order on May 15 declaring a state of emergency for Allegany and Garrett counties.
The declaration is in effect until July 14, and we will offer payment extensions and hold cancellations and non-renewals for in-force policies until that time.
In response to storms in Kentucky on May 16 and May 17, Gov. Andy Beshear issued an executive order declaring a state of emergency in Clay, Laurel, Pulaski, and Russell counties.
The declaration is in effect until June 17, and we will hold cancellations and non-renewals for in-force policies until that time.
If your business is located in one of the declared emergency areas and was impacted by the flooding, please reach out to your agent to discuss the accommodations available to you. Agents, please contact your Marketing Manager or Underwriter with questions about affected accounts.
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of March 13, 2025), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
Berkshire Hathaway Homestate Companies (BHHC) insurers, which includes all six underwriting companies, is proud to announce our achievement and reaffirmation of the A++ (Superior) financial strength rating by AM Best, the premier global credit rating agency for the insurance industry. This top-tier rating highlights our strong financial health and steadfast commitment to our policyholders.
Founded in 1899, AM Best Company has set the standard for evaluating financial stability in the insurance sector. Our attainment of their highest possible rating signifies BHHC’s leadership in the industry, showcasing our enduring legacy and continuous pursuit of excellence and innovation.
This A++ rating across all BHHC affiliates honors our past achievements and reinforces our future aspirations. It affirms our dedication to upholding the highest standards of financial reliability, reflecting our team’s commitment to delivering superior service and support to our clients and partners. As we advance, we remain focused on leveraging our strength, stability, and innovative spirit to exceed the expectations of those we serve, ensuring BHHC remains a trusted leader in the insurance industry.
Read more in the official press release from AM Best.
What began as eight separately managed regional insurance companies under Cornhusker Casualty Company evolved into a unified brand in the 1990s — Berkshire Hathaway Homestate Companies. Since that time, our name has reflected both our roots as separate companies and the exceptional financial strength of being part of Berkshire Hathaway.
Our success over the years is a testament to the dedication of our employees, the trust of our agents and policyholders, and the support of our partners.
Thank you for 55 incredible years! Here’s to the future and our next 55.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of February 22, 2024), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
Coming in at #5, we are excited to announce that Berkshire Hathaway Inc. is ranked in the top 10 of the World’s Most Admired Companies list as determined annually by Fortune. Notably, Berkshire Hathaway Inc. maintained the 1st place ranking for our industry (Insurance: Property & Casualty) for the 20th consecutive year. The Berkshire Hathaway Homestate Companies are honored to be a part of the Berkshire Hathaway insurance group in support of our organization’s reputation and integrity through a culture of service.
This annual list rates firms on nine critical attributes to identify those with the strongest reputations among the world’s top executives. The rankings emerge from a survey of 3,380 top executives and directors, along with financial analysts, that examines the companies that enjoy the strongest reputations within their industries and across industries.
Berkshire Hathaway Inc. has made the list before. In fact, since 1998, a 27-year streak, and for the Property & Casualty Insurance industry, since 2005, which is a 20-year streak. Being included as a part of the company that is named to this prestigious roster is an honor every single time. It says we’re innovative; provide high-quality products and services; are well-managed; are socially responsible; attract and retain talented team members; and are financially sound. All things that matter to our customers and to us. These are all things we strive to achieve every day.
Here’s to continuing the work as BHHC to be among the world’s most admired. After all, we want to be there next year to support and make our contribution to the Property & Casualty Insurance industry 1st place ranking and keep the streak going!
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of February 22, 2024), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
With the Centers for Disease Control and Prevention (CDC) reporting the first U.S. death from the H5 bird flu virus, it’s more important than ever to take steps to protect your employees as this virus continues to affect agricultural operations. As of January 14, 2025, the CDC reports that all 50 states have experienced outbreaks in poultry, affecting over 134 million birds. Additionally, 16 states have reported infections in dairy herds, totaling 925 affected herds. While the current public health risk for humans remains low, cases among dairy and poultry workers have been reported in several states. It’s crucial to stay vigilant and take proactive steps to safeguard your workers and livestock. We’ve prepared a guide with actionable measures to help you reduce exposure risks and maintain biosecurity on your farm.
We’ve prepared a comprehensive guide featuring actionable steps to help reduce exposure risks and maintain biosecurity on your farm. Highlights include:
Your attention to these precautions can make a significant difference. Taking preventative action now can help safeguard your workers and your operation.
Read the Safety Bulletin here.
Log in to the BHHC Safety Center for more resources on H5 Bird Flu Virus.
Review the CDC’s official page on H5 Bird Flu here.
For further assistance, see the H5 Bird Flu Virus FAQ here.
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company.
Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of February 22, 2024), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.