← Back to Explore
ENTITY
🕰1 min read
🎵Wisdom Density:
Moderate
🧭4 concepts
👁 -- readers

Crum & Forster

Crum & Forster was a major American insurance conglomerate that became a significant "non-controlled" investment for Berkshire Hathaway in the early 1980s.

📝 Investment Context

In the 1982 Letter, Crum & Forster appeared as a major common stockholding in Berkshire's equity table, with 908,800 shares at a cost of $47.1 million and a market value of $48.9 million.

🏗️ Role in Berkshire's Strategy

  • Insurance Synergy: As a massive player in the insurance space, Crum & Forster represented another way for Buffett to deploy capital into an industry he understood deeply.
  • Valuation: At the time of the 1982 letter, the holding was selling very close to its cost, reflecting the depressed state of the insurance industry cycle that Buffett discussed extensively in that era.

🔗 Connections