March 5, 2020 / 1:27 PM / a month ago

Brazil's IRB to review 2020 forecasts, end some bonuses -CFO

SAO PAULO, March 5 (Reuters) - New management at Brazilian reinsurer IRB Brasil Resseguros SA on Thursday said they were reviewing 2020 forecasts and ending some performance bonuses after the dismissal of top executives, but could not say if there would be new estimates.

IRB’s board replaced its chief executive and chief financial officer on Wednesday over rumors that Warren Buffet’s Berkshire Hathaway was an investor, which it denied, sending shares more than 30% lower. IRB shares opened 5% higher on Thursday. (Reporting by Carolina Mandl Editing by Brad Haynes)

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