IIT-Kgp alumnus, Ajit Jain named as Vice Chairman of Berkshire Hathaway

Dear Reader,
A name associated with undisputed excellence in the field of global insurance, Ajit Jain ('72, Mechanical Engineering with honours, RK Hall) was recently named as  Vice Chairman of Berkshire Hathaway. Under Jain's leadership as President of the Reinsurance Division of Berkshire Hathaway Insurance Group he has created $100 billion in value for the company and has taken Berkshire Reinsurance to a top global business.

After passing out from IIT Kharagpur, Mr. Jain started his career as an engineer and salesman with IBM in 1972, and subsequently went on to handle the role of Executive at McKinsey & Co between 1978 and 1986. In 1986 he joined Berkshire's National Indemnity Co. and the journey since has been spectacular.

Beyond his business pursuits, Mr. Jain is also deeply involved in a mission to seek a cure for muscular dystrophies collectively termed dysferlinopathy, a condition that afflicts his son. To that end, he has established the Jain Foundation, a Seattle-based not-for-profit organization that focuses on funding, extending logistical support and actively monitoring the progress of scientific research projects in key pathways towards a cure.

The IITKGP Foundation would like to congratulate Ajit on this monumental achievement!

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IIT Kharagpur alumnus, Ajit Jain named as Vice Chairman of Berkshire Hathaway

Greg E. Abel and Ajit Jain became the official top contenders Wednesday to follow Warren Buffett as CEO of Berkshire Hathaway Inc., the Omaha-based conglomerate with more than 400,000 employees and a market value of $500 billion. Although well-known to Berkshire shareholders and others in the investment world, the two have remained mostly behind the scenes publicly. They have come to Berkshire through different paths, but have two things in common: Neither were born in the United States and, Buffett said Wednesday, both have "Berkshire in their blood." Once called the "class clown" by a school buddy in India, Ajit Jain has created more than $100 billion in value for Berkshire Hathaway through the insurance operation he oversees.

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