Investing legend Warren Buffett is betting on business insurance, and looking to bet big. “We would like to get into the commercial-insurance business very big time,” Buffett, 82, said yesterday in an interview with Bloomberg Television’s Betty Liu, before the Berkshire Hathaway annual meeting this weekend in Omaha, Nebraska.
He’s picking up some executives from AIG and putting them to work for his investment business, Berkshire-Hathaway. Berkshire has been active in auto and re-insurance markets for quite a while, but not in business insurance. It’s too early to tell how they plan on getting into the game – through creating an insurer, purchasing one, investing in one, providing capital or other.
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