The New York Times-20080124-Switzerland- Swiss Re Stake Sold- -Brief-

Return to: The_New_York_Times-20080124

Switzerland: Swiss Re Stake Sold; [Brief]

Full Text (60  words)

The Swiss Reinsurance Company said that Berkshire Hathaway, the holding company controlled by Warren E. Buffett, had bought a 3 percent stake. Swiss Re said it also agreed to cede 20 percent of its property and casualty business to Berkshire over the next five years, freeing capital to buy back an additional 1.75 billion Swiss francs ($1.58 billion) of stock.