Greg Abel, the CEO of Berkshire Hathaway, has made a bold move that Warren Buffett never did, joining a U.S. government-backed insurance syndicate covering ships transiting the Strait of Hormuz, the most dangerous shipping corridor in the world. The move signals a new era of risk-taking under Abel, who previously avoided underwriting war-risk exposure in active conflict zones. The International Development Finance Corporation (DFC) announced it is doubling its reinsurance commitment to $40 billion, adding Berkshire, AIG, Travelers, Liberty Mutual, Starr, and CNA. The syndicate offers war hull risk insurance, protection and indemnity, and cargo insurance that were previously unavailable to shipping companies exposed to the strait. This move aligns with the trend of Buffett’s dominance in insurance.