02 Jul 2015 Warren Buffett Re-Examines Reinsurance ( Portfolio )

“What was a very lucrative business is no longer a very lucrative business going forward,” Ajit Jain, a longtime top lieutenant to Mr. Buffett and a potential candidate to succeed him as chief executive, said in an interview. Berkshire will pursue reinsurance deals when they make sense, he said. “But since the reinsurance business isn’t going to offer as many opportunities for the foreseeable future, we feel like we should go down the food chain.”