“If I was thinking of investing in financial guarantors, this would give me comfort”
Warren Buffett’s Berkshire Hathaway will receive a license in New York to open a new bond insurance business, a state regulator said Friday.
The license for Berkshire Hathaway Assurance Corp. will officially be approved no later than Monday.
Also on Friday, Berkshire Hathaway agreed to buy NRG N.V., the reinsurance unit of ING Group said for about $435.7 million in cash.
Buffett’s new insurance unit could take some business away from other insurers, said Donald Light, a senior analyst with Celent. Light owns Berkshire Hathaway shares. Read more
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