Business Wire·Apr 16, 2026, 1:17 PM ET

AM Best Affirms Credit Ratings of National Indemnity Company and Its Affiliates

AM Best affirmed the Financial Strength Rating of A++ (Superior) & Long-Term Issuer Credit Ratings of "aaa" (Exceptional) for National Indemnity Company & its affiliates.
The outlook for these credit ratings remains stable.
Ratings reflect the strongest balance sheet strength, very strong operating performance, favorable business profile, & appropriate enterprise risk management.
Capitalization is maintained at the strongest level via Best's Capital Adequacy Ratio (BCAR), with volatility mitigated by ample liquidity & vast financial resources at both the National Indemnity & Berkshire Hathaway levels.
National Indemnity provides capital relief to other Berkshire subsidiaries through quota shares & loss portfolio transfers.
Steady underwriting performance augmented by substantial investment income has led to operating results that outperformed peers over a prolonged period.
Performance is driven by the company's status as the largest balance sheet in the insurance market, relatively low underwriting leverage, & reliance on reinsurance agreements with Berkshire affiliates.
The affirmed ratings cover National Indemnity Company & seven specific affiliates, including Berkshire Hathaway Specialty Insurance Company & Columbia Insurance Company.
AM Best, a global credit rating agency specializing in the insurance industry, issued this press release on April 16, 2026.