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Warren Buffett buys up 3% of Swiss Re

Billionaire Warren Buffett’s Berkshire Hathaway group has taken a three per cent holding in the world’s largest reinsurer, Swiss Re.

Buffett paid £420m for the stake. As a result of the deal Swiss Re has announced an extra £821m buyback of equity over the next 18 months, which has reassured investors.

Berkshire Hathaway has also entered into a five-year contract with the reinsurer, whose shares have nose-dived in recent months. The agreement gives Buffett’s firm a 20 per cent share of Swiss Re’s property and casualty business.


Defence union in onslaught at ‘unnatural justice’ by FOS

The IFA Defence Union has made a scathing attack on the Financial Ombudsman Service, suggesting the organisation works “contrary to fair play and common sense”.Its submission says the FOS has wide powers of interpretation, unlike the legal system, and applies subjectivity to all areas.It says: “This subjectivity, which Walter Merricks refers to as ‘natural justice’, […]

Aberdeen sees potential investment opportunities in Asia

Following the recent sharp declines in Asian equities, any further share price corrections would be good for the financial health of the region and create opportunities for investors, says Aberdeen.It adds that given an uneasy global market environment, 2008 is likely to be a much tougher year for Asian equities and investors need to be […]

Brunel fails to bridge the gap

Falcon admits that inflows into its Brunel fund of funds range have been well short of target.The Brunel funds, launched last March and managed by Premier Asset Management, aimed to have £20m invested by February but have so far only achieved £4.5m. Head of investment solutions Tim Collyer says: “Falcon values its advisers’ independence so […]


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