Is Gerling Re Going Under? Buffet Starts Rumors

Rumors have been circling the New York investment community since yesterday that Gerling Global Re, a unit of troubled German insurer Gerling, may be going under.On Saturday, billionaire investor Warren Buffett told shareholders of Berkshire Hathaway Inc. (NYSE:BRKa) in his annual letter that a large reinsurer has "all but ceased paying claims," which could lead to billions of dollars of write-offs by insurers who bought policies from the company.Speculation thereafter focused on Gerling Re, which has been in financial dire straits for several years as rates decreased and investment returns fa...