Found via The Corner of Berkshire & Fairfax.
India-born Ajit Jain is seen as one of the candidates who will succeed Warren Buffett as chairman of Berkshire Hathaway Inc. Jain helped set up Berkshire's reinsurance business in 1986 when it was "raining gold" in the insurance markets due to a sudden hardening of rates and has been the biggest cash generator for the firm. He quit Mckinsey & Co to join Berkshire after a call from his former boss who had joined Buffett. Jain, who left the country in 1976, is amazed at how the difference between India and the West in terms of availability of products and services has been narrowed although the income gap within has widened. He narrates an incident of how 10 years ago, when his mother had to undergo a bypass surgery, he took her to Mount Sinai in the US. But more recently, when she had to undergo the operation again, she chose Apollo Hospital in India and the anaesthetist turned out to be the same who treated her in the US. Jain is in India to launch berkshireinsurance.com - an online distribution of motor insurance and his foray into the retail market here. In an interview with The Times Of India, Jain speaks about plans for India, Buffett's succession plan and the impact of the Japanese earthquake.
