Warren Buffett's Berkshire Hathaway reveals new $7 billion stake in Swiss insurer Chubb

Warren Buffett’s Berkshire Hathaway is disclosing a new $7 billion stake in fellow insurer Chubb. Berkshire revealed the investment it has been building over the past nine months in a quarterly update Wednesday on its stock portfolio. Berkshire said it held nearly 26 million Chubb shares at the end of March. Many investors follow Berkshire’s portfolio closely because of Buffett’s remarkably successful track record over the decades. Chubb shares jumped more than 6% in after hours trading after Berkshire’s investment was revealed. Berkshire owns many other companies but insurance like Geico and General Reinsurance has always been at the conglomerate's core. So it makes sense that another insurer like Zurich-based Chubb might appeal to Buffett.