Is This The Face of the Next Warren Buffett?

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Warren Buffett’s pledge to donate Berkshire shares worth close to $37 billion to a charitable foundation run by Bill Gates and four other Buffett family charities has sparked renewed speculation about who will succeed Buffett as head of Berkshire Hathaway when he retires or dies. In March, Buffett said the company’s board of directors had settled on three potential successors. Many assume that Ajit Jain (pictured left) is one of the three, and perhaps the leading candidate.
Jain came to Berkshire Hathaway’s reinsurance business with little experience in the field but lots of confidence. By all accounts that seems to have worked out well for him. The business he runs for Berkshire Hathaway has amassed an averaged of $1.7 billion a year since 1998.
Interestingly, Jain also shares Buffett’s habit of speaking in the vocabulary of religion when discussing business. According to this online newsletter, Jain describes the reinsurance business as being something less than heavenly.
"The problem with the re-insurance business," Ajit said, "is that it is a little like Hell. It is very easy to get into, but all but impossible to get out of."

Jain, Buffett Pupil, Boosts Berkshire Cash as Succession Looms
[Bloomberg]

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