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21 May 2012

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Berkshire a boost to Swiss Re in 2009, but write-downs drag

23 February 2010

Berkshire Hathaway's capital injection helped Swiss Re boost its shareholders equity by SFr5.7bn in 2009 to SFr26.2bn.

The Zurich-based giant said it is on schedule to redeem the SFr3bn convertible perpetual capital instrument it issued to the Warren Buffett-headed firm - which, with its quota share, adverse development and retro arrangements, remains Swiss Re's most significant single counterparty risk.

At year-end, Swiss Re's estimated excess capital at AA level was more than SFr 9bn as it returned to profit. The...

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