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Usually there are a few deep players Berkshire Hathaway(who happens to own a reinsurance business or two) has about $150 billion in cash just laying around, so
by zie 4y ago
Usually there are a few deep players Berkshire Hathaway(who happens to own a reinsurance business or two) has about $150 billion in cash just laying around, so they can pretty much insure anything they want and backstop it themselves.
But for those without such a deep bench, they, like other commenters mentioned do a round robin sort of thing.
- eru 4y agoThough you don't have to have 150 billion USD in cash. You can also have, say, 250 billion USD in the stock market instead. (I went with a bit more, because stocks are more volatile than cash.)