Reinsurer General Re Corp., which Warren Buffett's Berkshire Hathaway Inc. bought in 1998, has some culpability in the collapse of former Australian insurance Giant, HIH.According to the report, General Re had set up complex deals with HIH that HIH used to misleadingly boost profit. General Re was one of three reinsurers that arranged such deals, along with Germany's Hannover Re and Switzerland's Swiss Re. Details are contained in the report released Wednesday by the HIH Royal Commission. The reinsurance contracts obscured HIH's financial position according to the top-level inquiry, and were ...
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