Ajit Jain runs the highly profitable specialty reinsurance business at Berkshire Hathaway who has an estimated net worth of $2 billion. Born on July 23, 1951 in Orissa, India, he earned his Bachelors degree in Engineering at IIT Kharagpur in 1972. From 1973 to 1976, he worked for IBM India. He then moved to the United States and earned his MBA at Harvard Business School in 1978. He then joined McKinsey & Co. but returned to India to get married in the early 1980's. In 1986, he left McKinsey to work for Warren Buffet on insurance operations at Berkshire Hathaway.

Currently, Jain is the President of Berkshire Hathaway Insurance Group which is considered the jewel group of the Buffet business empire. It has been a significant profit generator and is known for taking risks that even others in the insurance business world had already avoided. It has insured the health of the Yankee superstar Alex Rodriguez as well as a policy that offered PepsiCo, Inc. a protection for a sweepstakes that potentially paid out a $1 billion grand prize but nobody won it. He single-handedly took the responsibility of the first ever venture made by Berkshire in the Indian insurance market, the Berkshire India Ltd. or BerkshireInsurance.com.