Contact Details
Address | Phone Number |
---|---|
1314 Douglas St, Omaha, NE, 68102 | (402) 916-3100 |
Services and Products
Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) serves individuals and businesses globally with a variety of services and products, including:
- Individual Life Insurance:
- Term Life Insurance: Ensures financial security for your loved ones in case of your death during the policy term.
- Whole Life Insurance: Builds a cash value accessible during your lifetime or for your beneficiaries after your death.
- Universal Life Insurance: Provides flexibility in premium payments and death benefits, along with tax-deferred growth in cash value.
- Group Life Insurance:
- Group Term Life Insurance: Affordable life coverage for employees in a company or organization.
- Group Whole Life Insurance: Builds a cash value to support retirement benefits or other financial needs for employees and their families.
- Group Universal Life Insurance: Flexible premium payments, death benefits, and tax-deferred growth in cash value.
- Reinsurance:
- Life Reinsurance: Protects life insurance companies from financial losses due to large claims or unexpected events.
- Annuity Reinsurance: Shields life insurance companies from financial losses related to annuity guarantees.
- Pension Reinsurance: Safeguards life insurance companies from financial losses arising from pension obligations.
Financial Stability and Ratings
BHLN boasted a robust financial performance in 2022, with a profit-driven stance.
The company raked in $651 million in direct premiums and disbursed $358 million in direct losses.
Notably, BHLN’s underwriting ratio, a key measure of profitability from underwriting activities, stood at 54.8%, signifying that for every $1.00 spent on claims and expenses, the company earned $1.85.
BHLN’s financial strength extended to its capital base, finishing 2022 with a total equity of $12.3 billion and total assets amounting to $16.7 billion.
This solid financial foundation positions BHLN securely to weather unforeseen losses or economic downturns.
In essence, BHLN is a financially sound and lucrative enterprise, as evidenced by its successful track record.
With its substantial financial reserves and profitable operations, the company is well-equipped to continue thriving and expanding in the future.
To sum up BHLN’s 2022 financials:
- Direct premium written: $651 million
- Direct losses paid: $358 million
- Underwriting ratio: 54.8%
- Total equity: $12.3 billion
- Total assets: $16.7 billion
Claims, Cancellations and Renewals
Claims
Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) actively maintains a robust record of promptly and fairly settling claims. In 2022, BHLN disbursed $358 million in direct losses.
The company boasts a remarkable claims satisfaction rating of 98%, indicating that 98% of its policyholders express contentment with the handling of their claims.
Cancellations and Renewals with Berkshire Hathaway Life Insurance Company of Nebraska (Nebraska)
BHLN upholds a low cancellation rate, standing at 6% in 2022. This signifies that a substantial 94% of BHLN’s policyholders chose to renew their policies that year.
Furthermore, BHLN achieved a commendable renewal rate of 95% in 2022.
This implies that 95% of eligible policyholders opted to renew their policies, showcasing a strong commitment to customer retention.
In summary, BHLN exhibits a commendable claims record, coupled with a low cancellation rate and a high renewal rate.
These indicators underscore the company’s effective responsiveness to the needs of its policyholders.
Additional details on BHLN’s performance in 2022:
- Claims satisfaction rating: 98%
- Cancellation rate: 6%
- Renewal rate: 95%
Customer Reviews
Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) receives a varied customer satisfaction rating.
On the Better Business Bureau, 26 customer reviews contribute to a 2.3 out of 5-star rating. Meanwhile, on Google Maps, based on 13 customer reviews, BHLN holds a rating of 3.3 out of 5 stars.
Community Involvement
Nick Greenlight is an experienced individual in the financial sector, with knowledge spanning from investment management to income tax preparation.
He has been writing informative essays on personal finance for over a decade and holds several credentials.