Renowned hedge fund manager Ackman plans to acquire or create an insurance company through Howard Hughes (HHH.US).

The Wisdom Financial APP learned that in February of this year, billionaire and hedge fund investor Bill Ackman announced his plans to increase his stake in Howard Hughes Holding (HHH.US), with the goal of creating a "modern version" of Berkshire Hathaway (BRK.A.US). On Monday, Ackman revealed that Howard Hughes may consider acquiring or creating an insurance company.