thefatbaboon Posted September 8, 2015 Share Posted September 8, 2015 Was going through the letters and whilst I knew this already it really hit me hard: That over the last 16 years Mr. Ajit Jain has increased Berkshire Reinsurance's Float 10 fold, from $4.3bn to $42.4bn. And has made a cumulative underwriting profit of more than $6bn in the process. For comparison, over the same period Geico increased Float from $3.4bn to $13.6bn. And made a cumulative underwriting profit of more than $10bn in the process. Jain has been paid about 2% per annum to accept a loan growing at a c.17% cagr. Geico has been paid about 7% per annum to accept a loan growing at a c.9% cagr. Looking at the data strung out like this over the last 16 years has rather blown my mind. Link to comment Share on other sites More sharing options...
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