Warren Buffet’s Berkshire Hathaway looking to enter Romanian insurance market

Anca Alexe 21/03/2019 | 08:06

American group Berkshire Hathaway, owned by billionaire Warren Buffet, has expressed interest in entering the Romanian insurance market and has already been in contact with the Financial Supervision Authority (ASF), according to Ziarul Financiar sources.

Berkshire Hathaway could sell insurance locally based on the right to free movement offered by the European Union, through a branch in Ireland which was founded in 2017. The Ireland subsidiary, called Berkshire Hathaway Specialty Insurance Company, is specialised in selling property, liability and health insurance to corporate clients.

The group has been active on the insurance market since 1996 through Geico, which sells auto and property insurance.

Berkshire Hathaway is listed on the New York Stock Exchange and has a market cap of USD 504 billion.

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