Berkshire Hathaway to Invest in Kemper Unit
Bloomberg News
Billionaire Warren Buffett’s Berkshire Hathaway Inc. will invest $125 million in a new Kemper Insurance Cos. unit that will underwrite commercial and professional liability coverage.
Berkshire, which owns General Re Corp., the third-biggest reinsurer, and Geico Corp., the fourth-biggest U.S. car insurer, will get a 15% stake in the unit.
Kemper will buy reinsurance, or insurance for insurance companies, from Berkshire.
Shares of Berkshire rose $300 to $75,200 on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
