Buffett to Swiss Reinsurance claims $ 1,000,000,000 cooperation relationship breakdown
Warren Buffett's Berkshire - Hathaway Company to Switzerland reinsurance claims one billion U.S. dollars, the cooperation between the two sides formally rupture. Swiss Re is disclosed for the first time in the third-quarter earnings in the dispute, saying Berkshire - Hathaway claims for damages of $ 500 million to $ 1 billion between. However, Swiss Reinsurance stressed that this requirement is completely unfounded.
Under a massive asset write-downs in 2009, reinsurers, Berkshire - Hathaway helping hand extended to provide the financing of 30 billion Swiss francs a year after the two sides reached agreement "retrocession". The company suffered a $ 642 million pre-tax underwriting loss of business misjudgments
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