Insurance

Swiss Re has sold part of its US life insurance business to Warren Buffett's Berkshire Hathaway for 1.3bn Swiss francs (£778m).

Aviva has acquired US equity manager River Road Asset Management as it looks to grow its institutional business and expand in the US market.

Standard Life has named group finance director David Nish as successor to group chief executive Sir Sandy Crombie from 1 January 2010.