Buffett’s Berkshire Looking at Royal Bank of Scotland’s Insurance Unit
Earlier Sunday, the Sunday Express said Buffett was exploring a bid for RBS’ Direct Line home and motor insurance business, according to a published report.
Last month, RBS said it was considering the sale of all or part of RBS Insurance, Britain’s second-largest general insurer, to shore up its balance sheet.
Analysts and bankers have valued the business at up to £8 billion ($15.8 billion).
Separately, Buffett said the Brazilian real remains the only currency in which Berkshire has a position. Also on currencies, he said he believed the Canadian dollar will be stronger against the U.S. dollar in 10 years.
(Reporting by Jonathan Stempel; Editing by Andre Grenon)
- Farmers to Resume Offering Key Lines of Business Insurance in California
- Auto Insurance Shopping ‘Hot,’ Consumers Switching ‘Sizzling’: LexisNexis
- Popular SC Country Music Venue Shuts Down Due to Liquor Liability Insurance Costs
- Greater Chance of Major Hurricane on East Coast This Year, Less in Gulf, Scientist Says