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ENTITY
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🎵Wisdom Density:
Moderate
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Sy Foguel
Overview
Sy Foguel is the CEO of GUARD Insurance Group, a property and casualty insurance company acquired by Berkshire Hathaway in 2012.
2019 Relevance
In the 2019 Letter, Warren Buffett highlighted Foguel's exceptional performance. Since Berkshire acquired GUARD in 2012 for $221 million, Foguel led the company to massive growth, increasing premium volume by 379% and generating an underwriting profit every year. Buffett praised him as a star manager who embodies the Berkshire ethos of decentralized, high-performance operations.
🔗 Connections
- Entities: GUARD Insurance
- Sources: 2019 Letter
📚 Historical Mentions & Citations (1)
Click a reference document below to expand and read the exact paragraph(s) containing this concept in the archive.
📜2019 LetterExcerpt Available▼
2019 LetterExcerpt Available
Late in 2012, Ajit Jain, the invaluable manager of our insurance operations, called to tell me that he was buying a tiny company — GUARD Insurance Group — in that small Pennsylvania city for $221 million (roughly its net worth at the time). He added that Sy Foguel, GUARD’s CEO, was going to be a star at Berkshire. Both GUARD and Sy were new names to me.