Private-Equity Firms Have Increased Risk in Life Insurance, Berkshire’s Jain Says
The Berkshire shareholder had an insurance question for CEO Warren Buffett and the company’s insurance head, Ajit Jain.
It centered on private-equity firms like Blackstone, Apollo, and KKR aggressively expanding to insurance and increasing risk.
“There’s no question the private-equity firms have come into this space, and we are no longer competitive in this space,” said Jain. “In the last three, four years, I don’t think we’ve done a single deal.
