Texas United Insurance

Texas United Insurance (Texas United) was an insurance company formed by Berkshire Hathaway in 1972 as part of the Home-State Insurance operation.

📝 Performance and Challenges

• Launch: Formed following the success of the home-state model in Nebraska and Minnesota.
• Initial Struggle (1973): Buffett noted that the initial management selected in Texas proved "incapable of underwriting successfully," requiring the operation to virtually start over.
• Turnaround (1975): Under the command of George Billing, the company underwent a major transformation with a new agency force and eventually won the "Chairman's Cup" for the lowest loss ratio among home-state companies.

🔗 Connections

• Parent Operation: Home-State Insurance
• Manager: John Ringwalt
• Manager: George Billing
• Source: 1971 Letter, 1973 Letter, 1975 Letter