Looks like Mr Buffett is tipping his toes into the stock market, buying an insurer named Alleghany, a company that Buffett has apparently spent 60 years observing. $BRK.B $Y

"Berkshire said it would pay $848.02 a share for Alleghany, a premium of about 25% to Friday’s closing price of $676.75 and a multiple of 1.26 times the New York-based company’s book value at the end of 2021. Berkshire, whose operations include an array of companies including insurer Geico, said it expects to complete the acquisition by the end of the year."

Founded in 1929 by railroad entrepreneurs Oris and Mantis Van Sweringen, New York-based Alleghany operates mainly in property and casualty reinsurance and insurance through subsidiaries and investments. Alleghany was transformed from a largely railroad holding company into an insurance and investment firm by Fred Morgan Kirby II. The company's board is currently led by Jefferson Kirby.

Good article on this acquisition here.