Warren Buffett News

Berkshire Likely to Report Big Q3 Claims Costs – and Reduced Insurance ‘Float’

The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every year since 2002. That streak could …

Buffett’s Berkshire to Buy 9% Stake in Italian Insurer Cattolica

Warren Buffett is expanding his wager on Italy. The billionaire’s Berkshire Hathaway Inc. said Thursday it agreed to buy about 9 percent of Italian insurer Societa Cattolica di Assicurazioni Scrl from Banca Popolare di Vicenza SpA, one of two failed …

Berkshire Hathaway Eyes Buying Stake in IRB Brasil Resseguros: Sources

Berkshire Hathaway Inc., the firm run by billionaire investor Warren Buffett, is in talks to buy a stake in Latin America’s biggest reinsurer, IRB Brasil Resseguros SA, after an initial public offering of stock, according to two people with direct …

Soft Prices May Bring Reinsurer Losses when Typical Cat Levels Return: Execs

It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …

China’s Fosun Looks at UK, Europe Investments on Brexit Volatility

Fosun Group, China’s biggest private conglomerate, will look for more opportunities in the United Kingdom and Europe in the volatile wake of Britain’s referendum vote to leave the European Union, the company’s billionaire co-founder and chairman said at a Reuters …

Timeline: From Teen to Octogenarian, How Buffett’s Wealth Has Grown

In 2016, it’s easier than ever to play the financial markets. From the explosion of online brokers to the rise of robo-advisors, armchair investors have dozens of tools just a few clicks or taps away. Daily trading is a snap. …

CEO Montross to Exit Gen Re at Year’s End; New CEO to Report to Jain, Not Buffett

General Reinsurance Corp. Chairman and CEO Tad Montross plans to step down by the end of 2016, the Berkshire-Hathaway-owned reinsurer said on Tuesday. An eventual successor will report to Berkshire Hathaway executive Ajit Jain, Gen Re spokesperson Sue Johnson told …

Fairfax Financial to Buy 33% Stake in India’s Bangalore Airport for $322 Million

Indian airport operator GVK Power & Infrastructure Ltd. said it sold a stake in its Bengaluru aerodrome to Fairfax Financial Holdings Ltd., helping cut debt. The shares rose. Fairfax will buy 33 percent of Bangalore International Airport Ltd. for 21.49 …

Buffett’s Gen Re to Exit Operations at 6 Locations, Amid Global Reorganization

Gen Re, one of the giant reinsurance businesses at Warren Buffett’s Berkshire Hathaway Inc., said it’s exiting property and casualty operations at six smaller locations amid a global reorganization. The reinsurer said Thursday that it plans to shutter operations in …

China’s Fosun Scraps Plan to Buy Israel’s Phoenix, Vowing More Prudent Strategy

Chinese conglomerate Fosun International Ltd.’s deal to acquire Israeli insurer Phoenix Holdings Ltd. for more than $460 million has unraveled, the firm’s second withdrawn overseas purchase in the past two months as it pledges a more prudent investment strategy. Fosun, …