Berkshire Hathaway acquired Medical Protective Corporation for $825 million, a transaction completed in June 2005, structured as Acquisition of 100% ownership from GE Insurance Solutions by a Berkshire insurance subsidiary..
Medical Protective Corporation operates in Insurance (medical professional liability), is based in United States (headquartered in Fort Wayne, Indiana). A Berkshire Hathaway unit (National Indemnity, with the sale ultimately effected through Columbia Insurance) acquired 100% of Medical Protective Corporation and its subsidiaries from GE Insurance Solutions. Founded in 1899 and based in Fort Wayne, Indiana, Medical Protective is one of the nation's oldest and largest providers of medical professional liability insurance for physicians and dentists, with more than $700 million in annual premium.
Adds a century-old 'gold standard' medical liability insurer with strong ratings and a capable management team to Berkshire's insurance group.
Advisory firms were not disclosed for this transaction.