Win Lose or Draw : Be A Steve, Make A Call Message Board

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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: sa-mule who wrote (5689)	3/10/2003 12:47:32 PM
From: Win-Lose-Draw	Read Replies (2) of 11447

a drone. meanwhile the sa'uds are financing another wave of suicide bombers against israel and north korea is assembling a nuke warhead and "test" firing missiles at japan. market news...but don't worry too much, greenspan says buffet is out to lunch... reuters.com NEW YORK (Reuters) - Billionaire investor Warren Buffett said a large unnamed reinsurer has "all but ceased paying claims," which he said would lead to billions of dollars of write-offs by insurers who bought policies from the company. Buffett, whose Berkshire Hathaway Inc. BRKa.N is the world's third-largest reinsurer, through its General Re unit, did not name the reinsurer. He made the comments in his annual letter to shareholders, published on Saturday. "One of the world's largest reinsurers -- a company regularly recommended to primary insurers by leading brokers -- has all but ceased paying claims, including those both valid and due," Buffett wrote. "This company owes many billions of dollars to hundreds of primary insurers who now face massive write-offs."

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