Warren Buffett speaks at Berkshire Hathaway’s annual shareholder meeting on May 4, 2024 in Omaha, Nebraska.
CNBC
Warren Buffett finally reveals his secret stock picks for insurance company in a new regulatory filing Chubb.
his conglomerate Berkshire Hathaway Purchased nearly 26 million shares of Zurich-based Chubb in a deal valued at $6.7 billion. At the end of March, the property and casualty insurance company became Berkshire’s ninth-largest holding.
Insurer Ace Limited acquired the original Chubb in 2016 for $28.3 billion in cash and stock, and the combined company adopted the Chubb name. Chubb CEO Evan Greenberg is the son of Maurice Greenberg, the former chairman and CEO of insurance giant American International Group.
Berkshire Hathaway has been buying mystery stocks for three consecutive quarters. Berkshire was granted confidentiality, keeping details of one or more of its holdings secret.
Many have speculated that the secret purchases may have been bank shares, as the group’s cost basis for its “banking, insurance and finance” stakes jumped by $1.4 billion in the first quarter of this year after rising by $3.59 billion in the second half of last year.According to separate Berkshire Filing.
It is relatively rare for Berkshire to request this treatment.Last confidential purchase Chevron and Verizon 2020.
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