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Berkshire Looking at Reliance Again

Wednesday, August 23, 2000 | 187 | 0 | min read

The Wall Street Journal reported today (page C1) that Berkshire Hathaway, the holding company founded and controlled by billionaire Warren Buffet, is expected to propose a deal to provide billions of dollars of reinsurance relief to struggling Reliance Group Holdings, parent to Reliance Insurance Co. Berkshire is now looking at all of Reliance's books, rather than just the professional liability books they had previously been interested in. The Journal believes that any deal would be capped and that Reliance would be responsible for amounts in excess of the cap. Regulators are said to be skep...

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