Berkshire-Hathaway Completes Acquisition Of Applied Underwriters By Associated Press - May 23, 2006
OMAHA, Neb. (AP) _ Berkshire Hathaway on Monday completed the acquisition of Applied Underwriters, a San Francisco-based company.
The sale includes all of Applied Underwriters' subsidiaries, including Continental National Indemnity Insurance Co. and California Insurance Co. Terms have not disclosed.
Applied Underwriters will keep its San Francisco Bay Area headquarters and its national service center in Omaha and will continue to be run by its founders, Berkshire Hathaway said.
A privately held company founded in 1994, Applied Underwriters offers packages of payroll, workers' compensation insurance, other types of insurance and services to companies.
Berkshire, the Omaha investment firm run by billionaire Warren Buffett, owns several companies that sell primary insurance and reinsurance of property and casualty risks, including GEICO and General Reinsurance Corp.
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