Berkshire Hathaway's Latest Investment Is Insurer Chubb
By Sabela Ojea
Warren Buffett's Berkshire Hathaway made public the state of its portfolio of investments and disclosed a stake in insurer Chubb.
Shares of Chubb rose 5.9% to $268 in after-hours trading, with the stock up 27% over the past 12 months.
Berkshire owned 25.9 million shares in Chubb at the end of March, according to a Securities and Exchange Commission filing published after the close on Wednesday. The investment was worth $6.72 billion.
In its latest results, Chubb said first-quarter total company net premiums written climbed more than 14% to $12.22 billion amid a 26% increase in life insurance net premiums written.
"Looking forward, we are confident in our ability to continue growing operating earnings at a rapid pace through P&C revenue growth and underwriting margins, investment income, and life income," Chief Executive Evan Greenberg said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
May 15, 2024 17:15 ET (21:15 GMT)
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