Hurricane Irene, threatening to become the first hurricane to hit the United States in three years, could be the catalyst the insurance industry has been seeking in its quest for across-the-board premium increases after years of weakness. Like speculators in …
Insurance company Nationwide Mutual said profits in the first half of the year fell by more than half after paying claims, like the rest of the industry, for some of the worst tornadoes in U.S. history. Privately held Nationwide, one …
The three-way bidding war for reinsurer Transatlantic Holdings grew more complicated Thursday as hostile suitor Validus Holdings sued the company, but also offered to open its own books for review. The dual moves were designed to raise the pressure on …
The spread between two of the dueling offers for reinsurer Transatlantic Holdings virtually disappeared Wednesday amid a fresh market rout, as deal-watchers waited for any sign as to what late entrant Berkshire Hathaway might do next. As of 12:20 p.m. …
Warren Buffett’s entry into the bidding for Transatlantic Holdings is drawing fresh attention to the reinsurance industry, which specializes in writing insurance for insurers in a way that frees up those companies to take on more risk. With cheap valuations …
Warren Buffett’s conglomerate Berkshire Hathaway Inc. reported a larger second-quarter profit Friday, as favorable investment results and strength in the rail and manufacturing businesses offset another underwriting loss in insurance. The 80-year-old “Oracle of Omaha” warned in April the insurance …
A unit of Warren Buffett’s Berkshire Hathaway Inc. made a $3.24 billion buyout offer for Transatlantic Holdings Inc., topping two existing rival bids for the reinsurer. Transatlantic’s board said on Sunday it would “carefully consider and evaluate” the $52-per-share offer …
Asbestos-related claims against MetLife Inc. rose 11 percent in the first half of the year, the company said Friday, mirroring recent comments by other large insurers who have experienced more claims than they expected. MetLife, the largest U.S. life insurer, …
Bailed-out insurer American International Group reported a profit for the second quarter Thursday, as tax benefits and its one-third stake in Asian insurer AIA offset a decline in operating income at its main businesses. The company’s chief executive also confirmed …
Four former executives at Berkshire Hathaway Inc.’s General Re Corp. unit and one at American International Group Inc. won the reversal of their convictions over a reinsurance transaction that prosecutors said fraudulently boosted AIG’s loss reserves. The 2nd U.S. Circuit …
