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Brookfield Asset Management Inc. chief govt Bruce Flatt stated its rising insurance coverage enterprise could finally personal the remainder of its operations in a transfer that emulates Berkshire Hathaway Inc.
“It can be simply turned up this manner, with the insurance coverage enterprise proudly owning our asset administration and our funding operations,” Flatt stated Wednesday on the Bloomberg Invest convention in New York, including that it’s “actually what Berkshire Hathaway is.”
Brookfield’s “particular ingredient” within the insurance coverage enterprise is that mum or dad firm Brookfield Corp. sits on about US$150 billion of capital, Flatt stated. The agency has poured nearly US$20 billion into the fairness of the insurance coverage unit, Brookfield Wealth Solutions, and expects to maintain constructing it out over the following 10 years.
Flatt shrugged off current discuss of tariffs and associated volatility in monetary markets. Brookfield’s enterprise is usually unaffected by tariffs as a result of it’s “a neighborhood investor” that invests within the infrastructure of sturdy nations, he stated.
He added that Brookfield isn’t notably serious about buying different fund managers proper now.
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“We are on the level the place we nearly have every little thing that we would like,” Flatt stated. “We see no actual have to pay up for something at this level.”
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