After ace investor Rakesh Jhunjhunwala along with a consortium of private equity firms WestBridge Capital and Madison Capital agreed to buy Star Health Insurance, the ace investor added one more commonality with legendary investor Warren Buffett- investment in the insurance space. Notably, billionaire Warren Buffett-run conglomerate has a major presence in the insurance industry. Berkshire's insurance businesses provide insurance and reinsurance of property and casualty risks primarily in the United States. Interestingly, Berkshire's insurance businesses also includes life, accident, and health reinsurers, as well as internationally based property and casualty reinsurers. In the latest quarter, insurance underwriting profit totalled $943 million, compared with a year earlier $22 million loss. Geico\u2019s pre-tax underwriting profit rose to $673 million from $119 million, after it boosted rates in response to rising accident and storm losses. Meanwhile, the financial details of the Star health Insurance deal have not been disclosed, and Bloomberg report estimates the deal value at just under $1 billion, i.e, about Rs 6,500 crore. The Rakesh Jhunjhunwala-led consortium has signed definitive agreements with the shareholders of Star Health & Allied Insurance Company to purchase their shares in Star Health, India\u2019s leading standalone health insurer. Earlier, it was reported that Rakesh Jhunjhunwala was in contention with several other financial investors. According to a CNBC TV18 report, Rakesh Jhunjhunwala will be a promoter of Star Health with 35% stake in the company. Further, Safecrop Holdings will be the new owner of Star Health- Safecrop Holdings comprises of WestBridge AIF, Rakesh Jhunjhunwala, Madison Capital, sources told the channel. The existing shareholders of Star Health include Star Health Investments and funds managed or advised by ICICI Venture, Tata Capital and Apis Partners. The transaction is subject to regulatory and certain other approvals, a statement by Star Health said. It\u2019s very often that people compare Rakesh Jhunjhunwala to Warren Buffett and might portray him as India\u2019s Warren Buffett. To this, Rakesh Jhunjhunwala once said \u201cI\u2019m not a clone of anybody. I\u2019m Rakesh Jhunjhunwala. It\u2019s not a fitting comparison. In terms of wealth and success and maturity, he\u2019s far, far ahead,\u201d Rakesh Jhunjhunwala told Reuters in 2012.