Berkshire Hathaway vs Travelers: Founders, CEOs and History
Berkshire Hathaway was founded in 1839 by Oliver Chace, Warren Edward Buffett and is led by Greg Abel. Travelers was founded in 1853 by Eliphalet Terry, Henry R. Fitch and is led by Alan Schnitzer.
Company facts
Berkshire Hathaway
- Founded
- 1839
- Headquarters
- Omaha, Nebraska
- Current CEO
- Greg Abel
- Employees
- 387,800
Travelers
- Founded
- 1853
- Headquarters
- New York, New York
- Current CEO
- Alan Schnitzer
- Employees
- 32,500
Founders
Berkshire Hathaway
Oliver Chace
Berkshire Hathaway is famous not for the men who originally founded it, but for the man who conquered and reinvented it. The original company, the Valley Falls Company, was a textile manufacturer established by Oliver Chace in Rhode Island in 1839.
Warren Edward Buffett
Warren Buffett effectively refounded Berkshire Hathaway beginning in 1965 when his investment partnership gained control of the struggling New England textile company and he became its chairman and CEO.
Travelers
Eliphalet Terry
Eliphalet Terry was a Hartford businessman and insurance executive whom the company lists among its founders. He is associated with Hartford's mid-19th-century insurance community that helped launch Travelers.
Henry R. Fitch
Henry R. Fitch (often credited alongside James G. Batterson) helped found the original Travelers Insurance Company in 1864 in Hartford, Connecticut.
CEOs and their tenures
Berkshire Hathaway
- Seabury Stanton1955–1965
President
Stanton ran Hathaway Manufacturing from the 1930s and led the 1955 merger with Berkshire Fine Spinning Associates that created Berkshire Hathaway Inc. He closed plants and used liquidation proceeds to buy back stock as New England textiles declined.
Source - Warren Buffett1965–2025
Chairman and Chief Executive Officer
Buffett took control of Berkshire Hathaway in 1965 and turned a shrinking textile maker into a holding company built on insurance float.
Source - Greg Abel2026–present
President and Chief Executive Officer
Abel became President and CEO on January 1, 2026 after the board approved the succession in May 2025.
Source
Travelers
- Jay Fishman2004–2015
Chairman and Chief Executive Officer
Serving as CEO until his tragic death from ALS in 2015, he is universally recognized as the absolute architect of the modern Travelers Companies, deeply cementing its status as a Dow Jones Industrial Average component.
Source - Alan D. Schnitzer2015–present
Chairman and Chief Executive Officer
Schnitzer joined Travelers in 2007 as general counsel, later ran Business and International Insurance, became CEO in December 2015 and chairman in 2017.
Source - Daniel S. Frey2018–present
Executive Vice President and Chief Financial Officer
As CFO, he provides the absolutely critical financial discipline required to navigate the highly volatile property and casualty insurance market.
Source
Timeline: Berkshire Hathaway and Travelers side by side
1839Berkshire Hathaway
Valley Falls Company Founded
Oliver Chace founds the Valley Falls Company in Valley Falls, Rhode Island, as a cotton textile manufacturer. Chace had learned the trade working with Samuel Slater and built his first mill in 1806.
1853Travelers
Oldest insurance roots date to 1853
Travelers traces part of its history to insurance organizations dating back to 1853, making it one of the oldest names in U.S. insurance.
1864Travelers
Travelers accident insurance roots
The Travelers name became associated with accident insurance in Hartford during the railroad era, laying the brand foundation for later expansion.
1955Berkshire Hathaway
Berkshire Fine Spinning and Hathaway Manufacturing Merge
Berkshire Fine Spinning Associates and Hathaway Manufacturing combine and take the Berkshire Hathaway name.
1962Berkshire Hathaway
Buffett Partnership Buys Its First Berkshire Shares
Buffett Partnership Ltd. buys its first Berkshire Hathaway shares in December 1962. Buffett was drawn to the pattern of Berkshire closing plants and using the liquidation proceeds to repurchase its own stock.
1964Berkshire Hathaway
Tender Offer Dispute With Seabury Stanton
Berkshire president Seabury Stanton asks Buffett at what price Buffett Partnership would sell, agrees to $11.50 a share, then mails a tender offer at $11.375.
1965Berkshire Hathaway
Buffett Takes Control and Names Ken Chace President
Buffett Partnership takes control of Berkshire Hathaway in May 1965 and Stanton leaves. Buffett selects Ken Chace, a long-time employee, as president to run the textile operation, and the cash it generates is pointed at other industries.
1967Berkshire Hathaway
Entry Into Insurance With National Indemnity
Early in 1967 Berkshire pays $8.6 million to buy National Indemnity Company and a small sister insurer from owner Jack Ringwalt.
1972Berkshire Hathaway
See's Candies Bought for $25 Million
Blue Chip Stamps, controlled by Buffett and Munger and later merged into Berkshire, buys See's Candies for $25 million.
1985Berkshire Hathaway
Textile Operations Closed
Buffett decides in July 1985 to close Berkshire's textile operation and the shutdown is largely complete by year end. He described it as finally throwing in the towel after twenty years of unremitting struggle with the business.
1996Berkshire Hathaway
GEICO Becomes Wholly Owned and Class B Shares Created
Berkshire buys the remaining 49% of GEICO on January 2, 1996, having held 51%, and GEICO becomes a wholly owned subsidiary. Shareholders also approve a recapitalization creating Class B shares with the economic rights of one thirtieth of a Class A share.
1998Berkshire Hathaway
General Re and Executive Jet Acquired
Berkshire acquires reinsurer General Re and fractional-aircraft operator Executive Jet.
1998Travelers
Travelers Group and Citicorp form Citigroup
Sanford Weill's Travelers Group merged with Citicorp to create Citigroup. The property-casualty business was spun off again in 2002.
2004Travelers
St. Paul and Travelers merger
The merger of The St. Paul Companies and Travelers created a major property and casualty insurer with greater commercial lines scale.
2007Travelers
Renamed The Travelers Companies
St. Paul Travelers reacquired the red umbrella trademark from Citigroup and adopted The Travelers Companies, Inc. name.
2010Berkshire Hathaway
BNSF Railway Acquired
Berkshire completes its purchase of Burlington Northern Santa Fe in the first quarter of 2010.
2016Berkshire Hathaway
Precision Castparts Acquired
Berkshire completes the purchase of Precision Castparts, an aerospace and industrial components maker, for $235 a share in cash.
2017Travelers
Simply Business acquisition
Travelers acquired Simply Business, expanding digital small-business insurance capabilities.
2018Berkshire Hathaway
Abel and Jain Named Vice Chairmen
Berkshire's board expands from twelve to fourteen directors and elects Greg Abel and Ajit Jain.
2022Berkshire Hathaway
Alleghany Corporation Acquired
Berkshire completes the acquisition of insurer Alleghany Corporation on October 19, 2022, paying $848.02 a share in cash for a total equity value of about $11.6 billion and adding the TransRe reinsurance business.
2024Berkshire Hathaway
Market Value Tops $1 Trillion
Berkshire's market capitalization passes $1 trillion on August 28, 2024, making it the first US company outside the technology sector to reach that level.
2024Berkshire Hathaway
Pilot Travel Centers Fully Owned
Berkshire acquires the remaining 20% of Pilot Travel Centers on January 16, 2024 and takes full ownership. It had bought 38.6% in 2017 and a further 41.4% for about $8.2 billion in January 2023.
2024Travelers
Corvus Insurance acquired
Travelers completed its purchase of cyber insurance specialist Corvus for about $435 million.
2025Berkshire Hathaway
Board Approves Abel as CEO From January 2026
Berkshire announces in May 2025 that Greg Abel will become President and Chief Executive Officer on January 1, 2026, with Warren Buffett remaining Chairman of the Board.
2025Travelers
2025 total revenues reach $48.828B
Travelers reported $48.828 billion in total revenues and $6.288 billion in net income for 2025.
2026Berkshire Hathaway
Abel Becomes CEO and Buffett Becomes Chairman Emeritus
Abel takes over as CEO on January 1, 2026 and Berkshire completes the $9.7 billion purchase of OxyChem from Occidental on January 2. On September 18, 2026 Buffett is named Chairman Emeritus and remains a director, and his son Howard G.
2026Travelers
Canada sale to Definity closes
On January 2, 2026, Travelers completed the sale of its Canadian personal insurance business and most of its Canadian commercial business to Definity for about US$2.4 billion.
2026Travelers
Q2 2026 net income of $2.208B
Second-quarter net income rose to $2.208 billion, with an 83.6% combined ratio and lower catastrophe losses.
Acquisitions
Berkshire Hathaway
- OxyChem (Occidental Chemical Corporation)2026$9.7B
- Alleghany Corporation2022$11.6B
- Precision Castparts Corp.2016$37.2B
- Burlington Northern Santa Fe Corporation (BNSF)2010$44B
- McLane Company2003$1.5B
- General Re Corporation1998$22B
Travelers
- Corvus Insurance2024$435M
- Simply Business2017$490M
- The Dominion of Canada General Insurance Company2013Undisclosed
- USF&G1998Undisclosed
Questions about Berkshire Hathaway vs Travelers
Who is the CEO of Berkshire Hathaway Inc. and The Travelers Companies, Inc.?
Berkshire Hathaway Inc. is led by Greg Abel and The Travelers Companies, Inc. is led by Alan Schnitzer. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Berkshire Hathaway Inc. founded vs The Travelers Companies, Inc.?
Berkshire Hathaway Inc. was founded in 1839 — 14 years before The Travelers Companies, Inc., which was founded in 1853. Berkshire Hathaway Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger The Travelers Companies, Inc..
How many employees does Berkshire Hathaway Inc. have compared to The Travelers Companies, Inc.?
Berkshire Hathaway Inc. employs approximately 387,800 people, while The Travelers Companies, Inc. employs approximately 32,500. Berkshire Hathaway Inc. has the larger workforce at 387,800 employees, compared to The Travelers Companies, Inc.'s 32,500. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Berkshire Hathaway Inc. and The Travelers Companies, Inc. headquartered?
Both Berkshire Hathaway Inc. and The Travelers Companies, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Berkshire Hathaway Inc. and The Travelers Companies, Inc.?
Berkshire Hathaway Inc. was founded by Oliver Chace, Warren Edward Buffett. The Travelers Companies, Inc. was founded by Eliphalet Terry, Henry R. Fitch.
Which company has a longer operating history — Berkshire Hathaway Inc. or The Travelers Companies, Inc.?
Berkshire Hathaway Inc. has been operating for approximately 187 years, making it the more established of the two companies. The Travelers Companies, Inc. has been in operation for around 173 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Berkshire Hathaway vs Travelers overview