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Yea, sounds like Warren Buffet isn't really behind this whole thing (entirely my observation). This morning on CNBC he was asked about the deal and only mention
by jonwachob91 9y ago
Yea, sounds like Warren Buffet isn't really behind this whole thing (entirely my observation). This morning on CNBC he was asked about the deal and only mentioned about how it was really Todd Combs that orchestrated this thing. Buffett doesn't even commit to forming a company for this new insurance idea (also of note, insurance businesses are one of Buffett's largest sectors of ownership, why note just instruct them to fix this issue???)
[1] https://www.cnbc.com/2018/02/26/full-transcript-billionaire-investor-warren-buffett-speaks-with-cnbcs-becky-quick-on-squawk-box-today.html https://www.cnbc.com/2018/02/26/full-transcript-billionaire-... (Search for Todd Combs, it'll bring you to the first paragraph talking about the healthcare insurance venture thingy).
- erubin 9y agois Berkshire in the health insurance business at all? Property/casualty and auto is presumably pretty different.
- nradov 9y agoYes it's almost completely different. A few of the actuarial concepts are similar but almost nothing else carries over. In fact, most health "insurers" have shifted away from selling insurance policies and toward becoming third-party claims administrators for self-insured group buyers.
- crb002 9y agoNah. Buffet wants in, but he wants his niche which is reinsurance; covering pools who get hit with cancer patients and car wrecks so they can expense risk as a line item and keep much lower cash reserves.