Destruction from Typhoon Haiyan, which flattened buildings and unleashed storm surges that may have killed 10,000 people, could be several times worse for the Philippines economy than superstorm Sandy was for the U.S. Losses will be $12 billion to $15 …
American International Group Inc., the insurer that repaid a U.S. rescue last year, said third- quarter profit climbed 17 percent as underwriting margins improved at the property-casualty business. Net income rose to $2.17 billion, or $1.46 a share, from $1.86 …
Warren Buffett, who aims to have $20 billion in cash at his Berkshire Hathaway Inc., isn’t investing fast enough to keep money from piling up. Berkshire will post a $4.3 billion third-quarter profit, according to an estimate from Barclays Plc, …
Willis Group Holdings Plc, the third-largest insurance broker by market value, agreed to allocate as much as 25 percent of premiums from the London corporate specialist market to pre-selected insurers. Underwriters in the group include Warren Buffett’s Berkshire Hathaway Inc., …
Homeowners’ insurance needs to be more standardized because customers are confused about what their policies protect, New York’s financial regulator said. Few fully understand all the complexities of their coverage, Benjamin Lawsky, superintendent of the state’s Department of Financial Services, …
Aon Plc, the world’s second-biggest insurance broker by market value, named Eric Andersen head of the Aon Benfield reinsurance operation and Mike O’Connor to lead the Aon Risk Solutions unit. Both will report to Steve McGill, group president of Aon …
Maurice “Hank” Greenberg, former head of American International Group Inc., said the Federal Reserve could disrupt financial markets by curbing bond buying too quickly and that Janet Yellen would take a measured approach. “It’s got to be done gradually,” Greenberg, …
American International Group Inc. has decided against signing new reinsurance contracts with Berkshire Hathaway Inc. after Warren Buffett’s company started a commercial insurer competing against AIG, according to a person with knowledge of the decision. AIG stopped entering into the …
Drivers in Washington, D.C. are the most accident-prone of any U.S. city, again placing at the bottom of an annual ranking by Allstate Corp. Motorists in the nation’s capital get in a collision every 4.8 years, more than double the …
American International Group Inc., the insurer that repaid a U.S. rescue last year, agreed to accept $905 million from Brookfield Asset Management Inc. to resolve a dispute tied to interest-rate swaps. Brookfield, Canada’s largest alternative-asset manager, said the payment will …
