Warren Buffet’s major profit turner, reinsurance, may be shifting due to recent modifications in the industry. Ajit Jain, a prominent deputy to Buffett and a possible successor for the CEO role, expressed in an interview that the prosperous business isn’t as profitable as it once was. He implied the need to explore other arenas as reinsurance wouldn’t provide as many prospects in the near future. “It feels like it’s time to consider shifting our focus,” he said. For additional info, visit Market Watch.
Photo credit: Celestine Chua, SmartAsset.com.
