Gerling is in talks to link its insurance business with Amercian tycoon Warren Buffett in a bid to secure its long-term survival.
Gerling is in talks to link its insurance business with American tycoon Warren Buffett in a bid to secure its long-term survival.
According to reports in the FT.com, the embattled German insurance group is in discussions with Buffet's holding company, Berkshire Hathaway, to secure reinsurance capacities for its industrial insurance businesses.
A deal could reduce pressure from customers and rating agencies to increase its capital.
Earlier this month Bayer - one of its largest customers - warned that it would not renew a big liability insurance package with Gerling unless its credit rating improves by mid-July.
Berkshire Hathaway and Gerling declined to comment.
