BUFFETT REPRESENTATIVE IN MUMBAI FOR INSURANCE DISCUSSIONS

Donald Wurster, CEO of Berkshire Hathaway subsidiary National Indemnity Company, is reported by the Times of India to be in Mumbai, conducting talks on the viability of an insurance venture in India. Mr Wurster is understood to be meeting “senior officials” from the non-life insurance market and also to have appointed a locally based consultant to gauge the potential for a Berkshire Hathaway move. One area that National Indemnity is thought to be looking at seriously is the motor market, which will be detariffed from January 1 2007.