Berkshire Hathaway 1999 Annual Report Download - page 40

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39
(15) Supplemental cash flow and insurance premium information (Continued)
Premiums written and earned by Berkshire’s pr operty/casualty and life/health insurance businesses during each of the
three years ending December 31, 1999 are summarized below. Dollars are in millions.
Property/Casualty Life/Health*
1999 1998 1997 1999 1998
Premiums Written:
Direct ........................................ $ 5,798 $4,503 $3,980 $ — $ —
Assumed ...................................... 7,951 1,184 957 1,981 46
Ceded ........................................ (818) (83) (85) (245) (5)
$12,931 $5,604 $4,852 $1,736 $ 41
Premiums Earned:
Direct ........................................ $ 5,606 $4,382 $3,879 $ — $ —
Assumed ...................................... 7,762 1,147 968 1,971 45
Ceded ........................................ (788) (89) (86) (245) (4)
$12,580 $5,440 $4,761 $1,726 $ 41
*There were no premiums written or earned in 1997.
(16) Business Segment Data
SFAS No. 131 requires certain disclosures about operating segments in a manner that is consistent with how
management evaluates the performance of the segment. Information related to Berkshire’s twelve reportable operatin g
segments is shown below.
Business Identity Business Activity
GEICO Underwriting private passenger automobile insurance
mainly by direct response methods
General Re Underwriting excess-of-loss and quota-share reinsurance
worldwide
Berkshire Hathaway Reinsurance Group Underwriting excess-of-loss and quota-share reinsurance
for property and casualty insurers and reinsurers
Berkshire Hathaway Direct Insurance Group Underwriting multiple lines of property and casualty
insurance policies for primarily commercial accounts
Buffalo News Publication of a daily and Sunday newspaper in Western
New York
FlightSafety and Executive Jet (“Flight Training to operators of aircraft and ships and providing
Services”) fractional ownership programs for general aviation aircraft
Nebraska Furniture Mart, R.C. Willey Home Retail sales of home furnishings, appliances and electronics
Furnishings, Star Furniture Company and
Jordan’s Furniture (“Home Furnishings”)
International Dairy Queen Licensing and servicing a system of almost 6,000 Dairy
Queen stores
Helzberg’s Diamond Shops and Borsheim’s Retailing of fine jewelry
(“Jewelry”)
Scott Fetzer Companies Diversified manufacturing and distribution of various
consumer and commercial products with principal brand
names including Kirby and Campbell Hausfeld
See’s Candies Manufacture and distribution of boxed chocolates and other
confectionery products
H.H. Brown Shoe Company, Lowell Shoe, Inc. Manufacture and distribution of footwear
and Dexter Shoe Company (“Shoe Group”)
General Re’s reinsurance business is included as a reportable segment beginning in 1999. General Re Corporation
was acquired by Berkshire on December 21, 1998. For further information regarding the acquisition, see Note 2.