Latest Berkshire Hathaway Headlines
All the headlines from our Berkshire Hathaway Topic Page, ordered by recency.
Berkshire Hathaway Homestate to Provide Workers’ Comp Nationally
Feb 3 2011 // The Berkshire Hathaway Homestate Companies (BHHC) now has the ability to provide workers’ compensation coverage to their clients in every state that allows private insurers to compete for business. Currently, BHHC...
Rating Recaps: PrimeOne, Berkshire Hathaway (Notes), Safety National
Dec 17 2010 // A.M. Best Co. has assigned a financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” to Michigan-based PrimeOne Insurance Company, both with stable outlooks. The ratings of...
Canada’s Sun Life Selling Reinsurance Unit to Berkshire Hathaway
Oct 27 2010 // Canadian insurer Sun Life Financial Inc. said Wednesday it would sell its reinsurance business to Warren Buffett’s Berkshire Hathaway after months of looking for a buyer for the profitable unit. Sun Life did not...
Berkshire Hathaway Moves Step Closer to Buffett Succession
Oct 26 2010 // Warren Buffett’s Berkshire Hathaway Monday said hedge fund manager Todd Combs would join the firm, potentially bringing the company a step closer to solving Buffett’s succession puzzle. Berkshire Hathaway owns...
GEICO Names New Southeast Claims VP
Aug 10 2010 // GEICO recently named Carl Tims, CPCU, of Lakeland, Fla., assistant vice president in charge of claims for the Southeast regional operations office in Macon, Ga. Tims began his career with GEICO in 1992 as a service...
Berkshire Hathaway Profit Down on Derivatives But Insurance Way Up
Aug 9 2010 // Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent,...
Geico Files $1.8M Lawsuit over Alleged No-Fault Fraud in New York
Jun 14 2010 // Insurer Geico has filed a $1.8 million lawsuit alleging a Queens radiology center orchestrated a no-fault auto insurance fraud scheme that involved thousands of suspect claims for service. Geico did not identify the 10...
Best Removes Berkshire Companies from ‘Under Review;’ Affirms Ratings
May 10 2010 // A.M. Best Co. has issued three separate bulletins announcing that it has removed a number of Berkshire Hathaway’s insurance companies from the “under review with negative implications” status it announced...
Buffett’s Berkshire Q4 Profit Highest Since 2007; Geico Premiums Up 6%
May 10 2010 // Warren Buffett’s Berkshire Hathaway Inc. Friday reported its largest quarterly profit since 2007, helped by an improving economy, investment and derivative gains, and the takeover of Burlington Northern Santa Fe...
Connecticut Fines GEICO $178K
Apr 9 2010 // The Connecticut Insurance Department has fined four GEICO subsidiaries a total of $177,500 for improper rating, claim delays and the use of unlicensed adjusters among other violations. The total fine is a result of smaller...
Business Moves
Feb 7 2010 // Swiss Re, Berkshire Hathaway Swiss Re concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written...
Berkshire Hathaway Loses ‘AAA’ Ratings from S&P
Feb 5 2010 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating on Berkshire Hathaway Inc. (BRK) to ‘AA+’ from ‘AAA’. S&P also lowered its financial strength...
Swiss Re in $1.268 Billion Deal with Berkshire Hathaway Life Insurer
Jan 19 2010 // Swiss Re has concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The...
Ratings Recap: Berkshire H. (Notes), AXA US, Chartis PR, AGCS Marine
Jan 12 2010 // Standard & Poor’s Ratings Services has assigned its ‘AAA’ senior debt rating to Berkshire Hathaway Finance Corp.’s (BHFC) $1.0 billion senior notes. The notes will have various maturity dates....
Best Affirms Swiss Re and Subs ‘A’ Ratings; Outlook Stable
Dec 15 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Swiss Reinsurance Company Ltd. and its subsidiaries. Best also affirmed...
Zinno Named Vice President and Head of GEICO Insurance Agency
Nov 18 2009 // Insurer GEICO recently named John Zinno a vice president of the company and president of GEICO Insurance Agency, which has offices Virginia and New York. A company subsidiary, GEICO Insurance Agency is a personal lines...
Best Puts Berkshire’s Subsidiaries Ratings under Review/Negative
Nov 9 2009 // A.M. Best Co. joined Standard & Poor’s and Fitch Ratings in placing the financial strength ratings (FSR) and issuer credit ratings (ICR) of the domestic and international P/C and life/health subsidiaries of...
S&P Puts Berkshire Hathaway on Credit Watch – Negative
Nov 5 2009 // Standard & Poor’s Ratings Services has placed its ratings on Berkshire Hathaway Inc. (BRK) and various affiliates on CreditWatch with negative implications following the company’s announcement that it will...
GEICO Opens West Virginia Office
Oct 23 2009 // GEICO hosted the grand opening of its new local office in Morgantown, West Virginia this week. Jim Robinson, local GEICO field representative, heads the Morgantown office. The open house featured GEICO’s official...
GEICO Begins Recruitment for New York Operation
Aug 20 2009 // GEICO has begun taking job applications for its new, Amherst, N.Y. based subsidiary, GEICO Insurance Agency, which will sell and service homeowners, renters, boat and other coverage. Gov. David Paterson joined company...
