Buffett Gets $1.8 Billion in Investment Assets From Cigna
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Warren Buffett’s Berkshire Hathaway Inc. is taking on as much as $4 billion in liabilities from Cigna Corp. as the third-biggest U.S. health insurer seeks to reduce risk from death-benefits and retirement products.
Cigna will pay $2.2 billion to Omaha, Nebraska-based Berkshire, according to a statement yesterday from the Bloomfield, Connecticut-based health insurer. The transaction will be funded with $1.8 billion in investment assets, $100 million in cash and an estimated $300 million tax benefit.