Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Berkshire linked with Bank of America Balboa auction

31 August 2010

Fresh from being named over the weekend as a potential bidder in the forthcoming sale of UK insurer RBSI, sources have linked Berkshire Hathaway with a possible approach for Bank of America's (BoA) up-for-sale Balboa Insurance Group subsidiary.

Balboa writes so-called "forced placed" insurance and, according to sources, as well as the attractiveness of the original book of business, the investment giant would be drawn to the significant reinsurance programme Balboa buys.

If a successful bid is made for the...

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