General Re Corp., a reinsurance unit of billionaire Warren Buffett’s Berkshire Hathaway Inc., agreed to pay $72 million to settle investor claims about its role in a fraudulent transaction involving American International Group Inc. The settlement was announced Wednesday by …
Warren Buffett has some explaining to do. Berkshire Hathaway Inc, his insurance and investment company, is in the midst of one of its worst stretches since Buffett took over the company in 1965. Berkshire’s shares have lost close to half …
Shares of Warren Buffett’s Berkshire Hathaway Inc. sank last Friday to their lowest level in 5-1/2 years amid concern the insurance and investment company could suffer big losses from bets on world stock markets and U.S. banks. Berkshire’s Class A …
Swiss RE’s CEO Jacques Aigrain resigned today, Thursday, February 13, a week after U.S. investor Warren Buffett stepped in with new capital and the reinsurer said it was disbanding its financial markets business. Swiss Re said Aigrain has been replaced …
The Swiss Re Group announced that it expects to report a net loss for the full year 2008 of approximately CHF 1 billion ($862.5 million) for 2008, compared to net income of CHF 4.2 billion ($3.62 billion) in 2007. It …
The former vice president of reinsurance of American International Group Inc. (AIG) has been sentenced to four years in prison for his role in a fraudulent scheme to manipulate AIG’s financial statements, according to the Department of Justice. Christian M. …
“You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach.” —Warren Buffett on the credit crisis “As a strong supporter of free enterprise, I …
A former insurance executive was sentenced to two years in prison Tuesday for a scheme that prosecutors said allowed the American International Group to manipulate its financial statements through a sham reinsurance deal eight years ago. Ronald Ferguson, a former …
Investors are wondering if Warren Buffett has lost his touch. They are bailing out of Berkshire Hathaway Inc stock and have lost some confidence that the insurance and investment company, run by one of the world’s most admired investors since …
Warfield-Dorsey, HMS Insurance Two long-time Baltimore area insurance agencies have combined forces. Warfield-Dorsey Co., Inc. of Hunt Valley, Maryland, has merged with HMS Insurance Associates Inc., an independent agency in Lutherville. The merger was effective Oct. 1, 2008, according to …
