Kielholz will not allow Warren Bufffet to covert to stock
Swiss Re chairman Walter Kielholz said it plans to repay CHF3bn ($2.9bn) of investments from Warren Buffett’s Berkshire Hathaway instead of allowing Buffett to convert the bonds into stock, Bloomberg reports.
“We can’t give Buffett shares for 25 Swiss francs when they’re worth 45,” Kielholz said. “Shareholders would shoot me, with hot cheese at the least.”
Mergers
Kielholz said banking regulation will spur mergers and acquisitions among insurers as banks sell insurance units because they’ll become too expensive to operate. Swiss Re does not plan to buy primary insurance businesses.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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