Berkshire Hathaway (BRK-A) concentration risks

The company's disclosed concentration profile is narrow, consisting of a single counterparty dependency of moderate share by disclosed size within one of its reinsurance subsidiaries. A significant portion of the NICO Group's annual reinsurance premium derives from a quota-share agreement with Insurance Australia Group Limited — a dependency exposure where a meaningful slice of one subsidiary's inbound premium is tied to the continuation and performance of a single cedant relationship. The character is dependency: the arrangement is governed by a specific contract, and its economics could be affected by a renegotiation, non-renewal, or deterioration in the underlying cedant's book. Given the breadth of the overall enterprise — which spans insurance, rail, utilities, manufacturing, and equity investments — this single subsidiary-level concentration sits in a relatively contained part of the overall business. The filing singles it out as a meaningful source of premium for the NICO Group, but it does not represent a concentration at the level of the consolidated enterprise's total revenues or assets. There is no disclosed customer, product, geographic, or investment concentration listed alongside this claim. On balance, the disclosed profile is limited: one subsidiary-level counterparty dependency of moderate disclosed size, within a conglomerate large enough that the exposure does not obviously move the consolidated investment verdict. It is worth tracking as a reinsurance relationship that could affect NICO Group premium volumes, but it is unlikely to be a standalone driver of enterprise outcomes.

For the engine’s reasoning on BRK-A’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.