Buffett's bond insurer sees $400 million in revenue:

05/5/2008 | Financial Times (free content)

Berkshire Hathaway Chairman Warren Buffett says the company's new bond-insurance unit's taking off was a commentary on the distrust of rivals' AAA rating. The unit wrote 278 contracts and generated $400 million in premiums in the first quarter, more than all of the established bond insurers. Most of the policies were additional coverage for clients already insured by one of the other AAA-rated firms, Buffett said at Berkshire's annual shareholder meeting.

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