by Freddie Mooche
Laptop Battery Berkshire Hathaway was dragged into the insurance kick-back scandal prompted by New York Attorney General Eliot Spitzer that is now being investigated by the SEC.If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.
Berkshire Hathaway is the largest US reinsurer and also owns auto insurer Geico Corp. The SEC is looking into whether Berkshire's policies function like loans and improperly help the company smooth earnings.Berkshire's policies account for $10 billion of its reserves. An amount equal to one fifth of its insurance reserves, putting Buffet's company in the center of the SECs probe.Buffet's company is the seventh insurer to receive requests for information on their policies by the SEC.
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Microsoft Dec 30, 2004 (AXcess News) Omaha - Berkshire Hathaway (NYSE: BRK.A) was dragged into the insurance kick-back scandal prompted by New York Attorney General Eliot Spitzer that is now being investigated by the SEC.Warren Buffet's company, Berkshire, said it was cooperating with the SEC investigation.
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Laptop Computers Berkshire Hathaway is the largest US reinsurer and also owns auto insurer Geico Corp. The SEC is looking into whether Berkshire's policies function like loans and improperly help the company smooth earnings.Berkshire's policies account for $10 billion of its reserves. An amount equal to one fifth of its insurance reserves, putting Buffet's company in the center of the SECs probe.Buffet's company is the seventh insurer to receive requests for information on their policies by the SEC.
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Laptop Computer Analysts believe that Berkshire is one of the most active risk reinsurers in the industry and expected it to be in the middle of the investigation.
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