Swiss Re-Berkshire SFr$1.3bn life deal continues to baffle
Last week's SFr1.3bn transfer of a closed block of US life reinsurance business to Berkshire Hathaway (BH) continues to bemuse analysts and industry commentators alike.
The reaction of Citi's James Quinn was typical of many in the analyst community. At a conference call following the 18 January announcement he asked Swiss Re CFO George Quinn [no relation] about the relative value and logic in the transaction, for such a "relatively small capital buffer creation".
Prefacing his question to the CFO,...
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