Kansas Bankers Surety Company
 | This article needs more citations. (September 2015) |
| Kansas Bankers Surety Company | |
|---|---|
| Type | Subsidiary |
| Industry | Insurance |
| Founded | 1909, in Kansas, United States |
| Headquarters | , United States |
Area served | Midwestern United States |
| Products | |
| Parent | Berkshire Hathaway |
| Website | kbsforbanks |
![[icon]](/article_list-https-en.wikipedia.org/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding missing information. (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.[citation needed]
Kansas Bankers Surety was acquired by Wesco Financial Corporation in 1996.[1] 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.[2] Kansas Bankers Surety became part of the Berkshire Hathaway Homestate Companies on December 31, 2013.[3] As part of a 2015 rebranding, the company began referring to itself as simply KBS.[4]
In 2016, KBS began non-renewing its financial institution crime bonds, directors and officers liability policies, and related coverages as it exited the market.[5][6]
References
[edit]- ↑ WESCO FINANCIAL CORPORATION LETTER TO SHAREHOLDERS 1997
- ↑ "Warren Buffett offers to buy rest of Wesco Financial". The Los Angeles Times. Reuters. August 26, 2010. Retrieved 2016-11-29.
- ↑ "About KBS: 2013". KBS. Retrieved 2016-11-29.[permanent dead link]
- ↑ "About KBS: 2015". KBS. Retrieved 2016-11-29.[permanent dead link]
- ↑ Stones, Chuck (2016). "Pub. 5 2016 Issue 3". KBA Leaders Ledger. The Kansas Banker. The newsLINK Group. p. 6. Retrieved 2026-10-04.
- ↑ "FAQs Regarding Changes at Kansas Bankers Surety" (PDF). Archived from the original (PDF) on 2016-11-05.
External links
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