Berkshire Hathaway Insurance Entering Singapore
I am quoted in an Omaha World-Herald article on Berkshire Hathaway Insurance entering Singapore (December 9, 2014):
“It is one of the best economies in the world, certainly in Southeast Asia,” said David Kass, a business professor at the University of Maryland and a Berkshire shareholder. “It is a great financial and economic environment and it makes great sense to expand there.”
Insurance is the lifeblood of Berkshire, whose businesses run from boxed confections at See’s Candies to industrial chemicals at Lubrizol. Insurance businesses provided Buffett with $77 billion as of December 2013, money that had been paid in by customers as premiums but not yet paid out to settle claims. That money, called float in the insurance industry, can be used to invest in other ventures.
“It is the fuel for Warren Buffett’s investments,” Kass said.
The entire article is available at:
