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 multiple businesses concentrated in insurance as well as tens of …
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 …
The Hartford has appointed Lisa Morgan as senior vice president of its Middle Market commercial insurance business. Morgan will lead The Hartford’s $2 billion middle market commercial insurance unit that serves mid-sized businesses and other entities, such as educational institutions …
It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
John (Jack) Byrne, who has led Fireman’s Fund and its former parent company, White Mountains Insurance Group, as well as GEICO, has been elected chairman of the board of the New York- based brokerage Integro. Byrne, who joined the board …
It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
Warren Buffett’s Berkshire Hathaway Inc. announced plans to buy the 19.9 percent it does not own of Wesco Financial Corp., a company run by Berkshire Vice Chairman Charlie Munger, in a transaction now valued at about $514 million. Wesco shares …
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, helped by the February takeover of railroad operator Burlington Northern Santa …
Swiss Re would return capital to shareholders rather than underwrite low-margin business, its chief financial officer told Reuters, in a sign of confidence in the world’s second-biggest reinsurer’s renewed capital strength. “If the market doesn’t improve and we don’t have …
Warren Buffett’s Berkshire Hathaway Inc. will take over asbestos and environmental pollution risks now held by CNA Financial Corp. in exchange for a $2 billion fee. CNA, which is the nation’s seventh-largest commercial insurer and 90 percent-owned by conglomerate Loews …
