Swiss Re reported a net profit of CHF 150 million ($131.6 million) in the first quarter of 2009, compared to CHF 0.6 billion ($527 million) for the same period last year. Earnings per share declined to CHF 0.45 (39.5 cents). …
Billionaire Warren Buffett on Sunday criticized some life insurers for taking on “crazy” financial risks by selling variable annuities, or retirement products that promised unrealistic guarantees to buyers. The products are tied to stock market performance and in some cases …
Warren Buffett criticized the government’s stress tests of 19 large U.S. banks, and said he would buy more shares of three big banks in the portfolio of his Berkshire Hathaway Inc. Buffett also told reporters on Sunday that Berkshire, which …
Being a big insurer will cost Berkshire Hathaway Inc. dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said. “We are lucky,” said Buffett, as he …
Berkshire Hathaway Chairman Warren Buffett says the company’s young bond insurance unit has not been writing much new business because pricing has been inadequate to cover the risk of losses. “We basically do not like the pricing” we would receive …
Moody’s Investors Service cut its credit ratings on Berkshire Hathaway Inc from Aaa, the top rating, saying the recession and investment losses at insurance operations of investor Warren Buffett’s holding company reduced its ability to support funding needs. Wednesday’s cut …
A hurricane insurance bill that would help Florida reduce its multibillion-dollar exposure in the state’s tenuous insurance market moved through a Senate committee Monday — with sparks flying. The Senate Banking and Insurance Committee approved the bill (SB 1950) on …
A Senate committee searching for ways to improve Florida’s shaky property insurance situation and lower the state’s risk recommended borrowing money from the state retirement system to obtain some short-term relief. The proposal debated in the Senate Banking and Insurance …
Berkshire Hathaway Inc. is at risk of losing its “AAA” credit rating from Standard & Poor’s, after the ratings agency revised its outlook on billionaire Warren Buffett’s company to “negative” from “stable.” Citing worsening market conditions that have hurt Berkshire’s …
Amidst all the gloom and doom, the failures and frustrations, the finger pointing and scapegoating, the drumbeat of negative economic news… we turn to two men wiser than ourselves for advice that lifts us up: Warren Buffett in his annual …
