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Non-Tech : Berkshire Hathaway & Warren Buffet

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To: 249443 who started this subject	9/13/2001 7:31:43 AM
From: 249443	of 240

Berkshire Hathaway Sees WTC Losses NEW YORK (Reuters) - Berkshire Hathaway Inc. (NYSE:BRKA - news), the holding company run by billionaire investor Warren Buffett (news - web sites), said on Wednesday it would take a share of insurance losses arising from the destruction of the World Trade Center. Berkshire, which owns reinsurer General Re and also underwrites big-ticket policies under the name Berkshire Hathaway Reinsurance Group, said it expected to take about 3 percent to 5 percent of the overall insurance industry loss from the event, slightly higher than its usual share. Berkshire said it could not make an ``intelligent estimate'' of industry-wide losses at this time. Analysts have predicted total insured losses could climb as above $20 billion for the attack, which would make it the most expensive insured event in history. ``It will be many years before even a rough range can be established for the losses that the insurance industry will sustain from the terrorist events,'' Berkshire said in a statement. Berkshire joins U.S. insurers Chubb Corp. (NYSE:CB - news) and American International Group Inc. (NYSE:AIG - ) in acknowledging exposure to insurance claims related to the attack. Several European insurers and reinsurers have also said they will see claims. Overall, a variety of types of insurance claims are likely to affect dozens of insurers worldwide.

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