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Buffett Says Bonds Unattractive, If Not Terrible for Reinsurers

  • Low yields could pressure industry for `considerable period'
  • Reinsurance `beard' provides tax advantage for money managers

Warren Buffett, who built Berkshire Hathaway Inc. by reinvesting premiums from insurance units, said low bond yields have hurt the prospects of that strategy.

“That game has been over for a while,” Buffett said Saturday during Berkshire’s annual meeting in Omaha, Nebraska. “It looks like it will be at least unattractive, if not terrible, for a considerable period in the future.”