skip to main |
skip to sidebar
Berkshire Hathaway Adds Swiss Re Stake
Swiss Re has reported that Berkshire Hathaway has acquired a 3 percent stake in the company. Swiss Re has also entered into a reinsurance contract with Berkshire Hathaway. The capital released as a result of this reinsurance contract will be used to buy back shares. Swiss Re has also entered into a proportional reinsurance contract with Berkshire Hathaway. Under this quota share arrangement, Berkshire Hathaway will assume a 20% share of all Swiss Re's property and casualty business for the next five years. The contract is effective as of 1 Jan. 2008. This will lead to a reduction in the capital deployed in Swiss Re's P&C business.
Swiss Re has reported that Berkshire Hathaway has acquired a 3 percent stake in the company. Swiss Re has also entered into a reinsurance contract with Berkshire Hathaway. The capital released as a result of this reinsurance contract will be used to buy back shares. Swiss Re has also entered into a proportional reinsurance contract with Berkshire Hathaway. Under this quota share arrangement, Berkshire Hathaway will assume a 20% share of all Swiss Re's property and casualty business for the next five years. The contract is effective as of 1 Jan. 2008. This will lead to a reduction in the capital deployed in Swiss Re's P&C business.
.jpg)
No comments:
Post a Comment