Peter Eastwood

Identity

Role: President & CEO, Berkshire Hathaway Specialty Insurance (BHSI)
First Mentioned: 2015 Shareholder Letter

Character Sketch

Eastwood is the founding leader of Berkshire Hathaway Specialty Insurance, the division that Buffett and Ajit Jain created in 2013 to provide primary and excess-casualty, professional liability, and specialty lines to commercial clients. Under Eastwood's leadership, BHSI grew from zero to over $1 billion in annual premiums in less than three years — an extraordinary ramp for any insurance operation.

Buffett noted in the 2015 letter: "In 2012, we started Berkshire Hathaway Specialty Insurance ('BHSI')... and put Peter Eastwood in charge." Buffett's commentary on BHSI's growth in the letter is one of quiet pride — the operation represents organic business creation inside Berkshire, rather than acquisition, validating the hypothesis that the Berkshire brand can unlock distribution advantages in commercial insurance.

Berkshire Mentions

• 2015 Letter: First named mention; BHSI cited as generating $1B+ in premiums in under three years

Connections

• Companies: Berkshire Hathaway Specialty Insurance
• Supervisors: Ajit Jain
• Concepts: Insurance Principles, Insurance Float, Organic Growth