Warren Buffett is still interested in “shooting elephants” but is not interested in issuing Berkshire Hathaway shares to fund acquisitions. Read this article for a brief review of Mr. Buffett’s recent comments and to view a CNBC interview.
Swiss Re has projected claims costs of $1.2 billion net of retrocession and before taxes due to the disasters in Japan. The company emphasizes that a great deal of uncertainty remains due to the difficult situations that still exist in the hard hit areas of Japan. Read this article for more details.
Berkshire has wrapped up a major victory with repayment of the Swiss Re convertible perpetual capital instrument which provided critical funding for Swiss Re in early 2009 at a time when the company was reeling from heavy investment portfolio losses in 2008 and had an urgent need to shore up its capital position. Read this article for more details.