Misplaced Pages

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Kansas Bankers Surety Company" – news · newspapers · books · scholar · JSTOR (September 2015) (Learn how and when to remove this message)

This section needs expansion. You can help by adding to it. (February 2020)

Kansas Bankers Surety Company (KBS) is an insurance company based in the United States. It is a wholly owned subsidiary of Berkshire Hathaway, the investment vehicle of Warren Buffett. It specializes in the writing of surety bonds for the officers of small, state chartered banks in the Midwestern United States. It formerly also wrote deposit insurance at such banks for coverage in excess of the per-depositor limits of the Federal Deposit Insurance Corporation, but this line of business was discontinued in 2008.

Kansas Bankers Surety was acquired by Wesco Financial Corporation in 1996. Berkshire Hathaway had owned 80% of Wesco since the 1970s, and in 2010 it announced its intention to acquire the remainder and become 100% owner of Wesco. Kansas Bankers Surety became part of the Berkshire Hathaway Homestate Companies on December 31, 2013. As part of a 2015 rebranding, the company began referring to itself as simply KBS.

In 2016, KBS announced that it would be exiting the bank insurance market and discontinuing all insurance products.

References

1. WESCO FINANCIAL CORPORATION LETTER TO SHAREHOLDERS 1997
2. "Warren Buffett offers to buy rest of Wesco Financial". The Los Angeles Times. Reuters. August 26, 2010. Retrieved 2016-11-29.
3. "About KBS: 2013". KBS. Retrieved 2016-11-29.
4. "About KBS: 2015". KBS. Retrieved 2016-11-29.
5. "FAQs Regarding Changes at Kansas Bankers Surety" (PDF). Archived from the original (PDF) on 2016-11-05.

External links

• Official website

This article on an insurance company is a stub. You can help Misplaced Pages by expanding it.

• v
• t
• e

• Berkshire Hathaway
• Insurance companies of the United States
• American companies established in 1909
• Financial services companies established in 1909
• Financial services companies of the United States
• 1909 establishments in Kansas
• 1996 mergers and acquisitions
• Insurance company stubs