Billionaire Warren Buffett Pours $7,800,000,000 Into ‘High-Flying’ Asset After Dumping Bank of America, JPMorgan Chase and Wells Fargo
Billionaire Warren Buffett is buying a “high flying” asset after significantly reducing his exposure to the US banking industry, according to a new report.

The renowned investor has sold $10.5 billion of Berkshire Hathaway’s stake in Bank of America since the summer, after selling all of the firm’s JPMorgan Chase and Wells Fargo positions in recent years.

Now, Buffett is turning his attention to a top global insurance company that specializes in property and casualty coverage.

New SEC regulator filings show Buffett is steadily buying shares of Chubb (CB), reports The Motley Fool.

The firm provides commercial and personal property and casualty insurance, as well as personal accident and supplemental health insurance, reinsurance, and life insurance in 54 countries and territories.