Swiss Re to replace Buffett

Swiss Re may return money to shareholders via buybacks or dividends after repaying a SFr3bn ($2.96bn) convertible loan from Warren Buffett’s Berkshire Hathaway, Reuters reports.

"The first priority is to redeem the Berkshire Hathaway convertible. The next step is to look at interesting business opportunities," finance director George Quinn said. "If there is nothing particular in the market, then we would consider a share buyback or dividend."