In his latest annual letter to shareholders, investment maestro Warren Buffett heaped praises on long-time Berkshire Hathaway employee Ajit Jain.

Talking about Jain — who heads the company’s insurance operations — Buffett said “that our position would not be what it is if Ajit Jain had not joined Berkshire in 1986.” He added that before that lucky day, he was struggling to build the company’s insurance business.

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Buffett also mentioned that Jain’s accomplishments since becoming part of Berkshire Hathaway have been bolstered by a team of immensely skilled insurance executives.

Jain, who hails from Odisha, completed his BTech at IIT Kharagpur before embarking on his career journey. Initially, he worked at IBM in India before pursuing further studies in the US, where he obtained his MBA from Harvard. He joined Berkshire Hathaway in 1986.

Buffett has commended Jain’s contribution to the company several times in the past as well. He had once famously said, “If Charlie (Munger) and I and Ajit are ever in a sinking boat — and you can only save one of us, swim to Ajit.”

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