National Indemnity Company - Investment Thesis
Why Warren Buffett and Berkshire Hathaway invested in National Indemnity Company.
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National Indemnity Company - Investment Thesis
First Diversification
Before 1967, Berkshire was a failing textile company (Berkshire Fine Spinning + Hathaway Manufacturing). The acquisition of National Indemnity marked Buffett's first step toward transforming Berkshire into an insurance/financial holding company.
"In 1967, we acquired National Indemnity Company and National Fire and Marine Insurance Company... This was our first major diversification away from textiles."
Jack Ringwalt's Legacy
Jack Ringwalt built National Indem
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