Billionaire Warren Buffett’s Berkshire Hathaway Inc. owns two more insurance companies after completing a deal with White Mountains Insurance Group. Documents filed with the Securities and Exchange Commission show the companies consummated the deal. It was announced in March. Berkshire …
Appalachian Underwriters, Florida Tennessee-based Appalachian Underwriters Inc. established a commercial brokerage division and will open a new office in Sarasota, Fla. to house the new operation. AUI will focus on property and casualty risks that are unique, unusual or require …
Warren Buffett’s Berkshire Hathaway Inc. said Friday third-quarter profit fell 77 percent, the fourth straight quarterly decline, hurt by weaker results from insurance underwriting and a big loss on derivatives contracts. Net income for the Omaha, Nebraska-based insurance and investment …
Billionaire Warren Buffett’s Berkshire Hathaway Inc. owns two more insurance companies after completing a deal with White Mountains Insurance Group. Documents filed with the Securities and Exchange Commission show the companies consummated the deal last Friday. It was announced in …
Five former insurance executives tied to American International Group face up to life in prison under a financial manipulation scheme. The potential lengthy prison terms are the result of a federal judge’s ruling that AIG shareholders lost more than $500 …
PricewaterhouseCoopers, the independent auditor for American International Group, will pay $97.5 million to settle a class-action securities fraud lawsuit against the insurance giant and others, the Ohio state attorney general’s office said Friday. The settlement is subject to approval by …
Speculation Abounds as AIG Readies to Sell Off Assets For the moment, giant American International Group (AIG) lives on government life support, for which it’s paying 850 basis points (8.5 percent) over LIBOR, effectively 11.4 percent, on an $85 billion …
Billionaire investor Warren Buffett said Wednesday his Berkshire Hathaway Inc. insurance and investment company would consider buying some units from American International Group Inc., the insurer bailed out by the U.S. government. Buffett said he expressed interest in buying parts …
Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed. But financial markets got a …
American International Group Inc. may not sell assets for as much as it would like, as it scrambles to meet terms of its U.S. government bailout. The giant insurer narrowly avoided bankruptcy late Tuesday after the U.S. Federal Reserve agreed …
