The man widely seen as the leading successor to Warren Buffett at Berkshire Hathaway has resigned after buying shares in chemical company Lubrizol Corp. before pushing Buffett to acquire it. David Sokol’s resignation is a reputational blow for Buffett, the …
Warren Buffett’s Berkshire Hathaway took nearly $1 billion in writedowns on three stocks last quarter under pressure from U.S. regulators who disagreed with the company’s accounting for losses in those shares, according to a series of letters released Monday. The …
Giant Berkshire Hathaway, which makes much of its money on insurance and investing insurance premiums, does not provide liability insurance for its own directors. Warren Buffett, the 80-year-old chairman of Berkshire Hathaway and billionaire investor, issued his annual letter to …
Warren Buffett’s Berkshire Hathaway Inc. will buy the 19.9 percent it does not own of Wesco Financial Corp., in a deal worth about $547.6 million, the companies said Monday. In September, Buffett submitted a takeover bid for Wesco, run by …
As bailed-out insurer American International Group prepares to return to the public markets, some say it needs a sign from an eminent authority that it is a company with solid operations and a stock worth an investment of hard-earned money. …
A New York judge held former American International Group Inc. Chief Executive Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the insurer hide losses. New York State Supreme Court Justice …
A New York judge held former American International Group Inc. CEO Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the insurer hide losses. New York State Supreme Court Justice Charles …
French reinsurer SCOR Group and Reinsurance Group of America (RGA) are in the race to buy Dutch insurer Aegon NV’s Transamerica Reinsurance unit, sources familiar with the matter said. The auction, which started after Aegon said in June it might …
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 disclose sale terms for the business, …
Insurers are under growing pressure from two fronts, each of which promises to be a key focus in earnings reports the next two weeks — depressed interest rates that could dampen investment income in coming years and tight markets that …
