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Warren Buffett could buy stake in IRB Brasil

Bnamericas Published: Monday, September 24, 2018
Warren Buffett could buy stake in IRB Brasil

Representatives of US billionaire investor Warren Buffett are reportedly in talks with reinsurance company IRB-Brasil Resseguros regarding the acquisition of an undisclosed stake in the company.

According to the Brazilian O Globo newspaper, talks have been held between IRB president José Carlos Cardoso (pictured) and Ajit Jain, the co-CEO of Warren Buffett's Berkshire Hathaway.

The interest of Warren Buffett in IRB is not new. During IRB's IPO process last year, Berkshire Hathaway evaluated the possibility of buying shares but opted to wait.

A new round of talks will take place after Brazil's October 7 presidential elections, according to O Globo, which did not say where it obtained the information.

IRB is the largest reinsurer in Brazil and Latin America.

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