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Tuesday
Jun292010

Berkshire Hathaway Inc. Wins World Cup Bet

DateTuesday, June 29, 2010 at 7:42PM

Berkshire Hathaway (of Warren Buffett fame) had sold insurance that would resulted in a pay-out if France won the World Cup. Now that's an interesting policy underwriting! This was disclosed in an interview with Warren Buffett earlier this year.

Businessweek speculates that the counterparty could be Carrefour SA, Europe’s biggest retailer, as it had a promotion in which customers buying flat-screen televisions would have been reimbursed if France won the tournament.

Source: Buffett Wins World Cup Bet as France Falls to Host [businessweek.com]

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