Five former executives of American International Group Inc. and Berkshire Hathaway Inc. unit General Reinsurance admitted to conducting a fraudulent reinsurance transaction on Friday as part of a deal to end a years-long criminal case against them. All five entered …
A deal has been reached to prevent a new criminal fraud trial for former executives of American International Group Inc. and Berkshire Hathaway Inc. unit Gen Reinsurance, federal prosecutors said on Friday. “The parties have reached agreements to resolve this …
Four former executives at Berkshire Hathaway Inc.’s General Re Corp. and one at American International Group Inc. are in talks to settle a long-running criminal case accusing them of engineering a reinsurance transaction that fraudulently boosted AIG’s loss reserves. The …
Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg said New York’s attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect reinsurance transactions. Greenberg and co-defendant Howard Smith, AIG’s former …
A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice “Hank” Greenberg a partial victory in the state’s fraud lawsuit against him over two suspect reinsurance transactions, but cleared the way for the case …
Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire Hathaway Reinsurance Group, personal lines powerhouse GEICO …
Anyone looking for more evidence of a strengthening U.S. economic recovery need only consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits. Even though Berkshire’s Warren Buffett …
General Re Corp. in Stamford, Conn. announced that Patricia H. Roberts will retire as president and CEO of General Star Management Co. and Genesis Management and Insurance Services Corp. effective March 1. Robert M. Jones, senior vice president and chief …
General Re, a unit of Warren Buffett’s Berkshire Hathaway Inc, is interested in buying South Korea’s Tong Yang Life Insurance to tap into the promising market, South Korean media reported on Wednesday. Tong Yang’s majority stakeholder Vogo Fund is seeking …
Michael Sweeney plans to retire as CEO of United States Aviation Underwriters (USAU) at the end of the year, parent company General Re Corp. in Stamford, Conn. said. Sweeney will continue as chairman until April 30, 2012. David McKay will …
