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Buffett Bets on Business Insurance

Berkshire Hathaway hires four AIG executives.

By Zachary Tracer | Updated on May 03, 2013

Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., is planning an expansion in commercial insurance after hiring four executives from American International Group Inc.

“We would like to get into the commercial insurance business very big time,” Buffett, 82, said yesterday in an interview with Bloomberg Television’s Betty Liu, before the company’s annual meeting this weekend in Omaha, Nebraska. “We hired them because they’re very good at the commercial insurance business.”

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