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0 4.00560785098775E-05 4.00560785098775E-05 6.00841177648162E-05 0.00056078509913874 0.000240336471059492 0.000240336471059492 0.000781093530943293
Stock impact report

Abu Dhabi firm wants a major slice of global reinsurance [Yahoo! Finance]

Berkshire Hathaway Inc. New (BRK.B) 
Last berkshire hathaway inc. new earnings: 11/2 07:00 am Check Earnings Report
US:NYSE Investor Relations: berkshirehathaway.com
Company Research Source: Yahoo! Finance
A well-heeled startup in Abu Dhabi plans to change that. RIQ — founded in May with $1 billion in backing from International Holding Co. and partnerships with BlackRock and Abu Dhabi-based asset manager Lunate — aims to become a top-tier global reinsurer, drawing strength from being based in the UAE's capital, its chief executive said in an interview. “Insurance is one of the absolute cornerstones of capital markets. And most people don't think about it in that context,” Mark Wilson said, pointing to Berkshire Hathaway as an example of how insurance provided the fuel for Warren Buffett's historic investment run. The Gulf, which has lagged other regions in developing a deep reinsurance market, is now positioned to close that gap, Wilson said. “If you are designing the ideal place for an insurance hub, what do you want? You want four things,” he said: stable long-term political leadership, proximity to capital, pragmatic regulation, and the ability to recruit talent. Abu Dhabi no Show less Read more
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