Warren Buffett’s Berkshire Hathaway Inc. said fourth-quarter profit surged, helped by derivatives bets tied to global stock markets, though operating profit fell 40 percent as the weakened economy weighed on several businesses. Profit rose for a third quarter, as Berkshire …
Germany’s Allianz Group posted preliminary figures for 2009, indicating that its net income rose by 13.2 percent to €4.7 billion [$6.4 billion]. Revenues were up up 5.2 percent to €97.4 billion [$132.5 billion]. Life and Health revenues exceeded €50 billion …
Employers Holdings Inc. reported fourth quarter 2009 net income of $11.3 million compared with $15.9 million in the same period in 2008, a decrease of $4.6 million. Pre-tax income in the fourth quarter increased $13.8 million in 2009, compared to …
The Obama administration’s pay czar said his attempts to renegotiate valid pay contracts at bailed-out companies, particularly insurer AIG, has been a “unique challenge,” according to testimony released Wednesday. Kenneth Feinberg, a Washington lawyer appointed by President Barack Obama last …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Generali Vie and Generali IARD. Best also affirmed the ICR of “a-” of the non-operating parent, Generali France S.A. The …
For the fourth consecutive year, A.M. Best Co. is maintaining a stable outlook for the global non-life reinsurance industry. The current outlook implies that the “majority of 2010 reinsurer rating actions are likely to be affirmations, with only a modest …
Despite soft market conditions, the anticipation of less favorable loss reserve releases and a contracting economy, the U.S. commercial lines insurance market remains relatively stable. According to A.M. Best, while the pricing behavior of commercial lines insurers is always difficult …
Bermuda-based Montpelier Re Holdings Ltd. reported greatly improved fourth quarter and full year financial results. The reinsurer’s fourth quarter net income was $104.7 million ($1.25 per share), compared to a loss of $47.7 million in Q4 2008. For 2009 net …
The Bermuda-based Argo Group International Holdings, Ltd. (the successor company of the Argonaut Group) announced a record result for 2009 with net income rising by 87 percent to $117.5 million, or $3.81 per diluted share from $62.9 million or $2.05 …
Bermuda-based Validus Holdings, Ltd. reported net income of $165.8 million, or $1.23 per diluted common share for the three months ended December 31, 2009, compared with net income of $37.0 million, or $0.47 per diluted common share, for the three …
