ClaimsWarren Buffett

“Berkshire has done many retroactive transactions – in both number and amount a multiple of such policies entered into by any other insurer.”

Warren Buffett, Berkshire chairman 2007 Berkshire Hathaway 2006 Letter to Shareholders (Berkshire Hathaway) archived copy

Factual Their own work or organisation

Berkshire has done many retroactive reinsurance transactions, a multiple of the number and amount of such policies entered into by any other insurer.

Unresolvable The public record could not settle it.

Factual: Statements about the present or the past, checked against the record: did they hold up?

The evidence is the person's or their organisation's own records.

Said for an organisation they lead or work for; it counts on both records.

What would count as true or false

True: industry data or credible analysis as of 2007 shows Berkshire's retroactive reinsurance transactions were numerous, and that both their count and their total premium or limit were several times (at least about twice) those of any other single insurer. Mostly true: Berkshire clearly led on both measures by a large margin, but the 'multiple' falls slightly short on one of them. Mixed: Berkshire led by a multiple on only one of the two measures (number or amount). Mostly false: Berkshire was a leading retroactive writer, but not by a multiple, or another insurer was comparable. False: another insurer matched or exceeded Berkshire on both measures.

Set before the research began.

Evidence (2)

  1. E1 2007ar.pdf Berkshire Hathaway Inc. Own record

    “7,708 Retroactive reinsurance”
  2. E2 2007ar.pdf Berkshire Hathaway Inc. Own record

    “Last year I told you in detail about the Equitas transfer of huge, but capped, liabilities to Berkshire for a single premium of $7.1 billion.”

Reasoning

E1 is a bare figure (7,708) beside the label "Retroactive reinsurance" from Berkshire's 2007 annual report. It does not say what that figure measures or which period it covers. E2 describes the $7.1 billion Equitas transfer to Berkshire but does not compare it with any other insurer's retroactive business. No independent industry data or analysis compares Berkshire's number or volume of retroactive transactions with other insurers', so the criteria cannot be applied.

Cite this claim

Warren Buffett, “Berkshire has done many retroactive reinsurance transactions, a multiple of the number and amount of such policies entered into by any other insurer.” (said 2007). Verdict: unresolvable. Reliability API, claim c_822ae14e0eb7, method 0.1.0+28da144b, dataset release v1.1.2. https://epistacklabs.com/claims/c_822ae14e0eb7

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

For Warren Buffett, or someone speaking for them: a correction or counter-evidence. Replies are read before anything is shown; an approved reply shows your name, role, date, statement and link. Your email address is never shown and is deleted 30 days after the decision (privacy).

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All of them

Verdicts are made automatically; how verdicts are made.