Ajit Jain (born July 23, 1951 in Orissa, India) is an Indian born employee of Berkshire Hathaway who currently heads several reinsurance businesses. He was raised in India's coastal state of Orissa. He is a strict vegetarian because of his religion, Jainism. Ajit Jain is an older cousin of Anshu Jain, who currently heads the Deutsche Bank as Co-CEO.
From 1973 to 1976, Jain worked for IBM as a salesman for their data-processing operations in India. He was named "Rookie of the Year" in his region in 1973. He lost his job in 1976 when IBM discontinued their operation in India because they declined to allow any Indian ownership of the company, as was then required by law.
In 1978, he moved to the United States, where he earned an MBA from Harvard Business School and joined McKinsey & Co.. He returned to India in the early 1980s and married. They then moved back to the United States, as his wife preferred to live there.
In 1986, he left McKinsey to work on insurance operations for Buffett. Jain was invited by his former boss, Michael Goldberg, who had left McKinsey & Co to join Berkshire Hathaway in 1982. At the time, he said he knew little about the insurance business. Today, Jain is the President of Berkshire Hathway Insurance group.
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his successors would not be 'of only moderate ability.' For instance, Ajit Jain and Greg Abel are proven performers
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