Berkshire Hathaway Specialty Insurance (BHSI) is expanding its European footprint with the launch of a primary casualty underwriting operation in Italy, marking a strategic push into one of Europe’s largest and most complex commercial insurance markets. The new offering will be based in Milan, reinforcing Italy’s growing role in Berkshire Hathaway’s international insurance strategy.
BHSI operates as a wholly owned subsidiary of Warren Buffett-led Berkshire Hathaway and sits within the National Indemnity Group, the legal insurance platform that provides the company’s A++ financial strength rating.
Italy as a Strategic Casualty Market
Italy represents a key opportunity for BHSI as demand rises for large-capacity, long-term casualty solutions among both domestic and multinational companies. The Milan operation will serve Italian corporates while also supporting international clients with exposures in the country, positioning BHSI as a stable counterparty in a market often challenged by pricing volatility and capacity constraints.
To operate across the European Union, the business will be written through Berkshire Hathaway European Insurance DAC (BHEI), the group’s Irish-domiciled entity that enables passporting across EU jurisdictions. The structure allows BHSI to combine local underwriting expertise with centralized capital strength.
The Italian casualty expansion will be led by Francesco Longobardo, appointed Head of Casualty, Italy. A former AIG underwriter, Longobardo brings deep experience in complex liability risks and has been tasked with building BHSI’s casualty portfolio from the ground up. His mandate includes developing tailored solutions for public liability, product liability, and employers’ liability risks.
Commenting on the move, Francesco Longobardo, Head of Casualty, Italy, BHSI, said, “We are pleased to launch our modular, proprietary primary casualty solution, expressly designed to meet our customers’ need for simplicity, clarity, and transparency in managing casualty risk. This marks another significant step in building a sustainable, long-term business in the Italian market.”
Oversight of the broader Italian operation will be handled by Leonardo Castrichino, Country Manager, Italy, who is responsible for strategic growth, talent acquisition, and long-term client relationships. Together, the leadership team is expected to scale the business in a measured manner, consistent with Berkshire Hathaway’s underwriting philosophy.
Modular Primary Casualty Offering
At the center of the expansion is BHSI’s modular primary casualty product, a flexible policy framework designed to meet the specific risk profiles of Italian and multinational companies. The product integrates public, product, and employers’ liability coverage under a single structure, allowing clients to adjust limits and terms as their operations evolve.
A defining feature of the offering is BHSI’s use of net capacity, meaning the company underwrites risk without reliance on reinsurance. This approach, championed by Warren Buffett and embedded in Berkshire Hathaway’s insurance culture, allows for faster local decision-making, stable pricing through market cycles, and long-term partnerships with clients.
Buffett Legacy and Forward Strategy
BHSI’s Italian expansion reflects the enduring influence of Warren Buffett, who in 2013 famously described Berkshire’s commercial insurance operations as “everlasting.” That philosophy continues under Greg Abel, now CEO of Berkshire Hathaway, who oversees operational growth across the conglomerate while maintaining the disciplined capital deployment that defines the group. Warren Buffett stepped down as CEO of Berkshire Hathaway on January 1, 2026, with Greg Abel succeeding him in the role, while Buffett continues to serve as Chairman.
With Italy added to its expanding European casualty network, Berkshire Hathaway Specialty Insurance is reinforcing its position as a long-term, financially secure insurer capable of supporting complex liability risks across major global markets. Even so, Berkshire Hathaway Inc. (BRK.B) closed at $498.67, down $0.43, or 0.09%.
