“Don’t waste your time on me,” he told AIG boss Willumstad

Warren Buffett has said that he was approached about insuring Lehman’s assets before it went bust and was asked to invest in AIG but told the firm "Don’t waste your time on me" the Times reports.

Speaking at a Fortune conference, Mr Buffett did not say who asked him for the insurance for Lehman’s but said that he asked for information to be sent to him by fax. The information did not arrive, he said, admitting he missed a voicemail message.

After reviewing AIG’s financial statements, Mr Buffet said that he told AIG's then-chief executive Robert Willumstad: "Don’t waste your time on me".