Buffett’s Still Looking for Elephants But Reluctant to Use Berkshire Shares
Warren Buffett is still interested in "shooting elephants" but is not interested in issuing Berkshire Hathaway shares to fund acquisitions. Read this article for a brief review of Mr. Buffett's recent comments and to view a CNBC interview ...
Swiss Re Estimates $1.2 Billion Pre-Tax Loss From Japan Disasters
Swiss Re has projected claims costs of $1.2 billion net of retrocession and before taxes due to the disasters in Japan. The company emphasizes that a great deal of uncertainty remains due to the difficult situations that still exist in ...
Berkshire Hathaway Scores Major Victory With Swiss Re Investment
Berkshire has wrapped up a major victory with repayment of the Swiss Re convertible perpetual capital instrument which provided critical funding for Swiss Re in early 2009 at a time when the company was reeling from heavy investment portfolio losses ...
Swiss Re Repays Berkshire’s Investment After Buffett Eases Early Payment Terms
In a surprising development, Swiss Re has reached an agreement with Berkshire Hathaway to repurchase the CHF 3 billion convertible preferred security which represented a large injection of cash into Swiss Re at a time when the company was at ...
Gulf of Mexico Disaster Calls for Prudent Regulatory Changes
Initial reports regarding the Deepwater Horizon disaster indicated that BP was self insured for the costs of the massive cleanup efforts that will likely be required for years to come. While BP claims to be willing to pay for all ...
Swiss Re Declares Intention to Redeem Berkshire Investment
Swiss Re announced annual results for 2009 yesterday and declared that the measures taken in 2009 to rebuild the company's capital base have been very effective. In a letter to shareholders, Swiss Re Chairman Walter B. Kielholz and CEO Stefan ...
Swiss Re Closes Retrocession Transaction With Berkshire Hathaway
Swiss Re has announced the closing of a U.S. individual life retrocession transaction with Berkshire Hathaway. The transaction transfers the risk associated with a block of yearly renewable term individual life insurance contracts written prior to 2004 to a Berkshire ...
Berkshire Hathaway’s Swiss Re Investment Pays Off
According to a report published this morning, J.P. Morgan analysts believe that Swiss Re will be in a position to pay back its CHF 3.6 billion loan from Berkshire Hathaway as soon as June 2010. We originally discussed the terms ...
Berkshire Finalizes Swiss Re Funding
Berkshire Hathaway and Swiss Re have finalized the terms of the funding arrangement initially announced on February 5, 2009. While the main elements of the deal have been known for some time, this is a good opportunity to revisit the ...