Berkshire Hathaway, the company controlled by billionaire Warren Buffett, has agreed to buy Applied Underwriters for an undisclosed price.
The purchase looks to be a move to expand its insurance operations. Applied Underwriters specializes in workers' compensation matters.
Berkshire Hathaway said Applied's existing management will continue to operate the company.
Warren Buffett said in a statement: "Applied's management team has the disciplined mind-set necessary to lead a profitable underwriting operation."
