Warren Buffett’s Berkshire Hathaway group has taken a 3 per cent stake in and struck a commercial alliance with Europe’s Swiss Re.
The move, which lifted shares in the world’s biggest reinsurance company on another day of downturn in global stock markets, underlines Mr Buffett’s desire to invest his conglomerate’s $50bn cash pile and to diversify from dollar-based assets to weather weakness in the greenback.
