Berkshire Hathaway Specialty Insurance launches surety in Spain
Berkshire Hathaway Specialty Insurance launches surety in Spain | Insurance Business America
Insurance News
Berkshire Hathaway Specialty Insurance launches surety in Spain
Launch is part of company’s strategy to integrate more fully into the European market
Insurance News
By
Althea Javellana
Berkshire Hathaway Specialty Insurance (BHSI) has officially announced its expansion into the Spanish surety market, appointing Jesús Barbero as the head of surety. This strategic move is set to enhance BHSI’s service offerings in Europe and respond directly to the growing demands of their clients and brokers in the region, the company said.
Constanza Gállegos, country manager for BHSI in Spain, expressed enthusiasm about leading the company’s foray into the European surety space. According to Gállegos, this expansion is a response to the needs of BHSI’s clients and brokers, highlighting the company’s commitment to long-term relationships and financial stability.
The company is poised to develop and offer diverse surety solutions tailored to a variety of projects and risk scenarios across Spain. Barbero, the newly appointed head of surety, brings over two decades of experience in the surety bonds sector, including 15 years in a leadership role at another major insurer.
BHSI operates in Europe under the names Berkshire Hathaway European Insurance DAC (BHEI) and Berkshire Hathaway International Insurance Limited (BHIIL). BHEI, domiciled in Ireland, and BHIIL, incorporated in England and Wales, are integral parts of Berkshire Hathaway Specialty Insurance Company (BHSIC), which is based in the United States. These entities are subsidiaries of Berkshire Hathaway’s National Indemnity group of insurance companies, known for their high financial strength ratings from AM Best and Standard & Poor’s.
Berkshire Hathaway Specialty Insurance has a wide-reaching global presence, with offices in key cities across continents including North America, Europe, Asia, and Australia. This extensive network supports a broad range of insurance products from commercial property and casualty to healthcare and travel.
The launch of surety services in Spain is part of Berkshire Hathaway’s ongoing strategy to integrate more fully into the European market, the company said.
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