(Boursier.com) — Berkshire Hathawaythe firm of Warren Buffett, announced the acquisition of the insurer Alleghany for $11.6 billion. Alleghany Corp is an American insurer based in New York, which owns, for example, the reinsurer TransRe or the firm RSUI. While Buffett recently lamented the lack of investment opportunities, Berkshire is announcing a substantial operation, strengthening its already well-endowed portfolio in insurance, including Geico or General Re. Alleghany, initially a railway holding company, has become an insurance group and investment. Berkshire is offering $848.02 per Alleghany stock, a premium of more than 25% on Friday’s close. Completion of the transaction is expected in the fourth quarter of 2022. The New York-based group will then operate as an independent entity.
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