What Does Buffett See in Swiss Re?

The Oracle of Omaha snaps up 3% of the world's largest reinsurer, sending shares up, and leaving analysts scratching their heads

Warren Buffett, the veteran Nebraska investor revered as the Oracle of Omaha, has come riding to the rescue of Swiss Re, the world's largest reinsurance company. Mr Buffett's Berkshire Hathaway – which owns General Re, one of Swiss Re's two biggest rivals – has taken a 3 per cent stake in the Zurich-based giant and will take over a large chunk of its future business.

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