Utilize the input text as a context reference, choose the right relationship between Berkshire Hathaway and Insurance from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Insurance Australia Group has formed a strategic relationship with Warren Buffett's investment giant Berkshire Hathaway that will see the US group take a 3.7 per cent stake in IAG via a $500 million placement.

Answer: industry