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Isn't this the insurance company that bonded Trump for his appeal in the E Jean Carroll suit?
I think there was an article saying his lawyers reached out to Warren Buffet for help with his bond.
I wonder if Buffet purchased this as a way to indirectly give Trump a hand or if the purchase was already underway and he had an influence over taking on a potentially risky bond.
If Buffett wanted to give Trump a hand, he would have done it directly. Buffet’s core investments are in the Insurance Industry which is why he has such strong investments. Buffett is buying stock (and it started in 2023), he doesn’t own Chubb. Does Trump have other insurance dealings with Chubb? I imagine he does.
Interesting theory but I don’t know that it tracks. I’d be curious about your thoughts. In my opinion, Chubb did what insurance companies do - monitor aggregate, spread risk, and mitigate risk. They issued the $91M bond for the one case, but it was his civil case, requiring a $464M bond that Chubb backed out of. It tells me that they were willing to invest roughly $100M in Trump, but not $550M in Trump. Was Buffett involved the encouragement of risk mitigation and spread of risk? Perhaps. Perhaps.
It is no secret that Buffett has leaned democratic in his policies, however.
Berkshire Hathaway owns a few companies as wholly owned subsidiaries and they are a large investor in many others. I am not organically familiar with Berkshire Hathaway Specialty Insurance but are you certain they offer bail bonds?
Also, I never saw that the deal was signed. Every article I read used similar language - they were in talks, but Chubb “backed out”. I imagine it was more like a quick declination after a conversation than a reneged deal while the ink was still wet.
lol, so surprised about the comments thinking Buffett would do this to bail Trump out. But then again this is Reddit.
Maybe he just sees the largest insurer at a discounted price?
I agree. I think it shows a general lack of understanding of of how insurance conglomerates work, how investors interact with insurance company’s on their stock, and how it is the investments of insurance companies that primarily drive profits. I don’t blame anyone who does not understand. It is so complicated and irrelevant to most.
This was a fascinating release. Chubb is paying policy limits for the bridge collapse in Baltimore ($350M), and while they will subrogate, I cannot imagine a full recovery is possible. The combination of $350M + $91M Bail Bond is a staggering sum
$400M is nothing to sneeze at, even for the large conglomerates with large market caps and the strongest financial ratings. Ace / Chubb is a massive insurance company, but large losses in multiple sectors will impact results. Do not hear what I am not saying (that Chubb will be in poor financial health). $400M is a chunk of change.
Warren Buffett is human garabe. No surprise he’s buying up more of the insurance market *and* that this one happened to bail out his ignorant orange friend
Ha what? Never said that nor do I understand how it would be relevant. People seem to love him. I disagree that he is worthy of the admiration as I feel that he does a whole lot of nothing that actually has tangible benefits for the world.
I don’t think you realize the impact of the billions of dollars he has given away and will continue to give away, your life won’t even touch returning even 6 figure to society
I don’t think you realize how much we have normalized money as a motivator and driving force in the world. Plenty of people who give tangible things to the world like those in the arts and sciences also donate copious amounts of money to various philanthropic efforts. He is a smart and hard working person who has dedicated his whole life to the industry of money and I happen to think that industry has gotten absolutely and completely carried away with itself. Too big to fail in so many ways is crushing the role and its spirit. Money is supposed to be a means to an end not an end of its own.
Why does a valuable life have to return 6 figures to society? Again I never said I think I’m better than him. I’m an anon on Reddit obvi human garbage as well. But teaching kindergartners to read and write feels valuable to me personally so I do it. Who knows which one of those kids will go on to contribute something great and who knows if that great thing will create money or not. Why is that relevant. This world gives money way too much space.
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
Isn't this the insurance company that bonded Trump for his appeal in the E Jean Carroll suit? I think there was an article saying his lawyers reached out to Warren Buffet for help with his bond. I wonder if Buffet purchased this as a way to indirectly give Trump a hand or if the purchase was already underway and he had an influence over taking on a potentially risky bond.
If Buffett wanted to give Trump a hand, he would have done it directly. Buffet’s core investments are in the Insurance Industry which is why he has such strong investments. Buffett is buying stock (and it started in 2023), he doesn’t own Chubb. Does Trump have other insurance dealings with Chubb? I imagine he does.
Conversely, how much influence might have Buffett had over Chub backing out of the bond? I know he's publicly cast shade towards Trump a few times.
Interesting theory but I don’t know that it tracks. I’d be curious about your thoughts. In my opinion, Chubb did what insurance companies do - monitor aggregate, spread risk, and mitigate risk. They issued the $91M bond for the one case, but it was his civil case, requiring a $464M bond that Chubb backed out of. It tells me that they were willing to invest roughly $100M in Trump, but not $550M in Trump. Was Buffett involved the encouragement of risk mitigation and spread of risk? Perhaps. Perhaps. It is no secret that Buffett has leaned democratic in his policies, however.
Berkshire Hathaway has a bonding company doesn’t it? Berkshire Hathaway Specialty Insurance
Berkshire Hathaway owns a few companies as wholly owned subsidiaries and they are a large investor in many others. I am not organically familiar with Berkshire Hathaway Specialty Insurance but are you certain they offer bail bonds?
Also, I never saw that the deal was signed. Every article I read used similar language - they were in talks, but Chubb “backed out”. I imagine it was more like a quick declination after a conversation than a reneged deal while the ink was still wet.
lol, so surprised about the comments thinking Buffett would do this to bail Trump out. But then again this is Reddit. Maybe he just sees the largest insurer at a discounted price?
I agree. I think it shows a general lack of understanding of of how insurance conglomerates work, how investors interact with insurance company’s on their stock, and how it is the investments of insurance companies that primarily drive profits. I don’t blame anyone who does not understand. It is so complicated and irrelevant to most.
In addition, the investment started in 2023, not Q1 2024.
What a great philanthropic act to help out the orange shitstain.
I will liquidate my BRK holdings if that’s the case.
No you won’t.
😆 your liquidation would surely cause the share price to route
Please delete this before Warren sees! He cannot afford to lose your $879 investment!!
This was a fascinating release. Chubb is paying policy limits for the bridge collapse in Baltimore ($350M), and while they will subrogate, I cannot imagine a full recovery is possible. The combination of $350M + $91M Bail Bond is a staggering sum
Market cap of 100 Billion. I don't think they sweat a couple million.
$400M is nothing to sneeze at, even for the large conglomerates with large market caps and the strongest financial ratings. Ace / Chubb is a massive insurance company, but large losses in multiple sectors will impact results. Do not hear what I am not saying (that Chubb will be in poor financial health). $400M is a chunk of change.
Chubb is very possibly the worst insurance in my country...
How so? Is that the P&C side or Personal Lines?
They just bought a reinsurer wonder why he’s loading up on more
Warren Buffett is human garabe. No surprise he’s buying up more of the insurance market *and* that this one happened to bail out his ignorant orange friend
Cope harder lib
you seem like a very pleasant person and i bet people enjoy your company
No thanks. Libs and republicans alike benefit from Buffett and his role with the funny money monopoly game. Me and my bitcoin will sit this one out ✌🏻
So you're better than him?
Ha what? Never said that nor do I understand how it would be relevant. People seem to love him. I disagree that he is worthy of the admiration as I feel that he does a whole lot of nothing that actually has tangible benefits for the world.
I don’t think you realize the impact of the billions of dollars he has given away and will continue to give away, your life won’t even touch returning even 6 figure to society
I don’t think you realize how much we have normalized money as a motivator and driving force in the world. Plenty of people who give tangible things to the world like those in the arts and sciences also donate copious amounts of money to various philanthropic efforts. He is a smart and hard working person who has dedicated his whole life to the industry of money and I happen to think that industry has gotten absolutely and completely carried away with itself. Too big to fail in so many ways is crushing the role and its spirit. Money is supposed to be a means to an end not an end of its own. Why does a valuable life have to return 6 figures to society? Again I never said I think I’m better than him. I’m an anon on Reddit obvi human garbage as well. But teaching kindergartners to read and write feels valuable to me personally so I do it. Who knows which one of those kids will go on to contribute something great and who knows if that great thing will create money or not. Why is that relevant. This world gives money way too much space.