Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in
CNN
The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year.
The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year. Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. That translates to a value of approximately $6.7 billion. Buffett’s company had shielded the position from public knowledge as it was building the stake, requesting “confidential treatment” from the SEC in previous filings. Chubb, an insurance business that operates in 54 countries, made headlines in March after the company underwrote President Donald Trump’s nearly $92 million appeal bond in E. Jean Carroll’s defamation lawsuit. Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves. Berkshire Hathaway’s stake in Chubb is no exception. Chubb’s stock jumped by more than 8% in after-hours trading on Wednesday. Buffett’s bet on Chubb is familiar territory: insurance companies Geico, National Indemnity and General Re are all subsidiaries of Berkshire Hathaway.
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