Berkshire on hook for $900mn share of QBE losses

A QBE spokesperson confirmed that 2017 catastrophe losses are
expected to exhaust its $900mn aggregate reinsurance programme,
which is understood to be written by Berkshire Hathaway.
The reinsurer first picked up the deal in 2015, which previously
was broadly placed.
QBE said it would take a $600mn hit to profits in the fourth
quarter after the year's string of losses.
It has increased its 2017 allowance for large individual risk
and catastrophe claims to $1.75bn, after earlier this year saying.