Geneva - Swiss Re, the world's second largest re-insurer, said Thursday it would accept a 3 billion-Swiss-franc (2.58 billion dollars)-investment from US financier Warren Buffet, needed in light of losses suffered last year.

The investment, through Buffet's firm Berkshire Hathaway, would be "significant" the company said, and would help it maintain enough capital to keep an AA credit rating.

Last year the company was expected to have suffered losses about 1 billion francs.

The investment needs to be approved by Swiss Re shareholders.

Last month the re-insurer said Buffet had a 3 per cent stake in the company. (dpa)