It isn't. Berkshire own about 3.7% of IAG after a A$500M placement in 2015.
The strategic relationship was announced in 2015, Berkshire had been a re-insurer for IAG for quiet some time. The strategic relationship was a whole of account quota share on 20% of the IAG insurance for a period of 10yrs (until 2025). It was a cash injection for AIG, however Berkshire have that 20% quota share for 10yrs. Berkshire could have increased stake to 14.9% under the terms, from the T20 I have no idea who is the Berkshire nominee is, but it's one of the top 4... Maybe others on here have followed IAG closer and can comment, I cannot don't know the ins and outs of IAG well at all.
IAG Price at posting:
$4.69 Sentiment: Hold Disclosure: Not Held
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