Berkshire Hathaway's insurer licensed by 45 states
NEW YORK, March 31 |
NEW YORK, March 31 (Reuters) - Berkshire Hathaway's (BRKa.N) new bond insurer has been licensed by 45 states and the District of Columbia, the National Association of Insurance Commissioners said on Monday.
The national group coordinated an expedited licensing process for the new insurer after losses related to subprime mortgages eroded investor confidence in existing guarantors.
(Reporting by Anastasija Johnson, Editing by Chizu Nomiyama)
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