Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying
Publishing timestamp: 2024-05-15 17:45:23
Summary
Berkshire Hathaway has secretly purchased nearly 26 million shares of Chubb for a stake worth $6.7 billion, making it their ninth biggest holding. Shares of Chubb jumped nearly 7% after the news was revealed. Berkshire has a large footprint in the insurance industry and has recently exited positions in other insurance companies. This secret purchase was kept confidential for three quarters straight.
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Keywords: investment strategy, verizon communications inc, globe life inc, warren buffett, insurance industry, breaking news: markets, business news, markets, markel corp, breaking news: investing, stock markets, wall street, breaking news: business, chevron corp, chubb ltd, berkshire hathaway inc,