Berkshire Hathaway founds U.S. Medical Stop Loss division

Berkshire Hathaway founds U.S. Medical Stop Loss division | Insurance Business

Berkshire Hathaway founds U.S. Medical Stop Loss division
Berkshire Hathaway Specialty Insurance Company (BHSI) has created a dedicated Medical Stop Loss division for the U.S. market.

The insurer has appointed John Snyder to head the division along with David Friedly as Head of Underwriting and Glenn Funk as Actuary for Medical Stop Loss.

Snyder joins BHSI with about four decades of experience, specializing in employee self-funded medical plans. He was previously a Third Party Administrator, and employee benefits broker, and a Managing General Underwriter of stop loss business. In 2013, he retired from AIG after serving as President and CEO of Medical Excess, LLC for over a decade.

Friedly boasts more than four decades of life and health insurance expertise, having served both major commercial insurers and benefits organizations. He has served leadership roles in operations, compliance, claims, and underwriting and was most recently Head of Underwriting at AIG Benefits Solutions.

Funk also possesses more than four decades of industry experience. He was recently the Vice President and Actuary at AIG Benefits Solutions and was previously Executive Vice President and Chief Actuary at Medical Excess, LLC. He has also served as Chief Actuary at American Health & Life Insurance Company and General Reassurance Corporation and Anthem Insurance Companies. He is a Fellow of the Society of Actuaries.

“We are pleased to have the talent and experience of John, David and Glenn fueling our move into medical stop loss and building out our team for this product line,” stated BHSI Executive Vice President Sanjay Godhwani. “Their deep expertise, coupled with BHSI’s strong balance sheet, will allow buyers to make their medical stop loss choice with confidence.”

All three executives will be based in BHSI’s Irvine, California office.