His conglomerate Berkshire Hathaway has acquired nearly 26 million shares of Chubb for a stake worth $6.7 billion.
Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion.CNBChas bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. The property and casualty insurer became Berkshire's ninth biggest holding at the end of March.
Insurer Ace Limited acquired the original Chubb in 2016 for $29.5 billion in cash and stock, and the combined company adopted the Chubb name. Evan Greenberg, CEO of Chubb, is the son of Maurice Greenberg, the former chairman and CEO of insurance giant American International Group. The topic of this mystery holding didn't come up at the Berkshire's annual meeting in Omaha earlier this month.
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