Sun, Nov 22 2009

Warren Buffett subsidiary eyes Bulgaria

Wed, Mar 11 2009 00:20 CET byDnevnik.bg 702 Views
Warren Buffett subsidiary eyes Bulgaria

Warren Buffett, pictured in 2003

Berkshire Hathaway International Insurance Limited, a subsidiary of the investment company of US investment billionaire Warren Buffett, has expressed interest in entering the Bulgarian market.

In a letter to Financial Supervision Commission, the insurer said it plans to write payment protection policies on the Bulgarian market.

The firm says on its website it sells motor vehicle insurance in the UK. BHILL is one of 254 EU insurance firms that have said they want to set foot in Bulgaria under the single passport rule, which allows EU-registered banks and insurers to operate in any of the community markets without the need to apply for a local licence.

French life insurer Axeria Prevoyance and general insurer Axeria IARD have already opened local branches.

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