UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next
Author: CCinOC Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Insurer Tower Group (Nasdaq: TWGP) Dying? Date: 10/13/2013 1:11 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
PS- that's NOT why Buffett owns insurance companies, but, whatever.

Why Warren Buffett owns insurance companies

Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” [...] Buffett typically has good things to say about insurance and his annual letter on 2011 results that was issued last Friday continued that tradition. [...] Buffett calls the insurance operations “Berkshire’s core operations and the engine that has propelled” the expansion of Berkshire Hathaway over the years. [...] In addition to its three major insurance operations, Berkshire Hathaway also owns a group of smaller [insurance] companies, the results of which have in the aggregate been profitable, according to Buffett.

Comments on articles are often the best part:

The best years for this guy are definitely behind him, as evidence of his push for higher taxes and his love for the Obama administration's socialist policies [makes clear]. Yes, he makes alot of money off investing in stocks of companies with others' money, basically like large banks have done. Fortunately for Mr. Buffett, the insurance industry was not as damaged by the credit default swaps. And I really do not think that the success of Gieco is due to them not having agents; it's more like the nonprofessional counselors advising their clients to carry 10/20 limits with millions in assets just so they can sell a policy to their customers. Then they get into an accident and find out too late from their attorney that they purchased the wrong amount of coverage. Maybe good business for Gieco, but not for the consumer.

More at http://www.insurancejournal.com/news/national/2012/02/27/237...
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement