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APRA sets sights on company linked to Buffett.(Australian Prudential Regulation Authority)(General Reinsurance Australia)(Brief Article)
Australasian Business Intelligence, March, 2005 by Costa, Gabrielle
Mar 16, 2005 (The Age - ABIX via COMTEX)
The Australian Prudential Regulation Authority (APRA) has given General Reinsurance Australia a deadline. The company has until 29 March 2005 to explain why it should not be investigated over financial reinsurance matters. General Re's parent company is Berkshire Hathaway, a group affiliated with one of the world's best-known investors, Warren Buffett. An APRA spokeswoman has refused to disclose whether the potential investigation relates to the $A5.3 billion collapse of Australian insurance giant HIH in 2001. The spokeswoman said there is no suggestion that General Re is insolvent or unviable.
Publication Date: 17 March 2005
AUSTRALIAN PRUDENTIAL REGULATION
AUTHORITY:
GENERAL...
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