Wells Fargo & Co., the largest U.S. home lender, has agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients. USI Insurance Services will purchase 42 of Wells …
Regulators are starting to scrutinize Warren Buffett’s Berkshire Hathaway Inc. to determine whether it is important enough to the financial system to require Federal Reserve supervision, according to two people with knowledge of the matter. The U.S. Financial Stability Oversight …
Warren Buffett’s Berkshire Hathaway Inc. is backing a $1 billion prize offered by Quicken Loans Inc. if a contestant predicts the winner of each game in the National Collegiate Athletic Association’s men’s basketball tournament. The prize will be paid in …
Travelers Cos., the property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit more than tripled as claims costs from natural disasters fell a year after Superstorm Sandy. Net income rose to $988 million, or $2.70 a share, from …
Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, agreed to sell a reinsurer he formed in 2012 after the hedge fund firm reached a $1.8 billion deal to end a criminal investigation. A group led by former …
Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, agreed to sell a reinsurer he formed in 2012 after the hedge fund firm reached a $1.8 billion deal to end a criminal investigation. A group led by former …
ING U.S. Inc. will begin selling fixed annuities through Allstate Corp. agencies as the largest publicly traded U.S. auto and home insurer ceases to offer its own brand of the retirement products. The deal gives ING U.S. access to one …
Grahame Chilton, who helped build Benfield Group Ltd. before selling it to Aon Plc in 2008, has formed a partnership with Arthur J. Gallagher & Co. to start a reinsurance brokerage. The new business, Capsicum Reinsurance Brokers LLP, will be …
Progressive Corp. said its technology that tracks driver behavior to set insurance rates will help the company adapt as automated cars take the road. The auto insurer offers a device called Snapshot, which plugs into a vehicle and monitors habits …
Esurance, the online car insurance seller owned by Allstate Corp., is betting that bundling auto and home policies will help it compete with Berkshire Hathaway Inc.’s Geico unit and Progressive Corp. Esurance started underwriting homeowners coverage in Wisconsin and plans …
