Berkshire Hathaway has further increased its Australasian exposure by taking on 15% of QBE’s catastrophe insurance quota in the latter group’s annual reinsurance tender covering 30% of its risk.

It is not clear who has taken on the other 15% reinsurance risk.

Some 70% of QBE’s reinsurance risk is held by three major reinsurers – including Swiss Re and Munich Re – under a three-year arrangement that is in its final year.

QBE would not comment to insuranceNEWS.com.au on the Berkshire deal.

Berkshire Hathaway is also believed to have taken on exposure to Suncorp’s Queensland and New Zealand risk and IAG’s 2013 reinsurance program, which grew from $4.7 billion to $5 billion for the year.

Meanwhile, Berkshire Hathaway has appointed former QBE chief actuary and head of reinsurance Blair Nicholls as its International Reinsurance MD.

Mr Nicholls left QBE last year in a restructure following the retirement of former CEO Frank O’Halloran.