Warren Buffett's brand-new municipal bond insurer, Berkshire Hathaway Assurance Corporation, has sold its first coverage, backing a $10 million bond issued by New York City yesterday. Ajit Jain, who runs Berkshire's insurance businesses, tells the New York Times, "We're tip-toeing into the market, doing very small deals. We want to see if we can get the pricing that we find acceptable to us. Once we find this is real, we'll put in a lot more capital." He also describes how a call from a New York regulator played a key role.
Related Links:
- Warren Buffett's Muni Bond Insurer "Tip-Toes" Into Market With $10M NYC Bond
- Berkshire Hathaway's Jain Tells CNBC He's Talking "Right Now" With Bond Insurers About Possible Purchase or Partnership
- Buffett's Bond Venture Part 1 (Fox)
- Buffett's Bond Venture Part 2 (Fox)
- WSJ : Buffett to Start A Bond Insurer
1 comment:
Thank you for including all the references and links. Very useful.
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