SEC Expands General Re Probe

Law360, New York (August 17, 2006, 12:00 AM EDT) -- Regulators are taking a closer look at transactions between the reinsurance arm of Berkshire Hathaway Inc. and two other reinsurance providers, as part of an ongoing probe into allegations of improper reinsurance accounting.

The U.S. Securities and Exchange Commission has broadened its investigation of Berkshire’s General Reinsurance to include a look into finite reinsurance transactions between the company and fellow reinsurance providers Prudential Financial Inc. and a predecessor to St. Paul Travelers Cos.

General Re disclosed the expanded investigation in a filing with the Connecticut Insurance...
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