Buffett confirms Berkshire Hathaway selling workers comp unit

Buffett confirms Berkshire Hathaway selling workers comp unit

February 25, 2019
  • The sale of Applied Underwriters represents a rare divestment by Warren Buffett.
  • Applied Underwriters provides bundled workers compensation and other employment-related insurance products targeted to small and medium-sized businesses.

Warren Buffett confirmed on CNBC on Monday that Berkshire Hathaway is selling its Applied Underwriters workers compensation unit.

The sale of Applied Underwriters represents a rare divestment by Buffett. His corporate empire represents nearly 100 businesses in multiple sectors, and Buffett does not usually seek to cash out after acquiring a company. Reuters first reported that Applied Underwriters may soon be sold.

San Francisco-based Applied Underwriters sits outside Berkshire Hathaway’s insurance focus, making it a noncore asset Buffett wishes to shed, Reuters reported.

Applied Underwriters provides bundled workers compensation and other employment-related insurance products targeted to small and medium-sized businesses.

Reuters contributed to this report.

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