October 4, 2010
It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
September 17, 2010
John (Jack) Byrne, who has led Fireman’s Fund and its former parent company, White Mountains Insurance Group, as well as GEICO, has been elected chairman of the board of the New York- based brokerage Integro. Byrne, who joined the board …
September 15, 2010
It’s cash-rich, led by a CEO with political aspirations, and was last year’s top S&P 500 performer. Pressured by soft pricing and slow premium growth, (re)insurer XL Group is also undervalued, analysts say, and a prime target for a bidder …
August 26, 2010
Warren Buffett’s Berkshire Hathaway Inc. announced plans to buy the 19.9 percent it does not own of Wesco Financial Corp., a company run by Berkshire Vice Chairman Charlie Munger, in a transaction now valued at about $514 million. Wesco shares …
August 9, 2010
Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent, helped by the February takeover of railroad operator Burlington Northern Santa …
August 6, 2010
Swiss Re would return capital to shareholders rather than underwrite low-margin business, its chief financial officer told Reuters, in a sign of confidence in the world’s second-biggest reinsurer’s renewed capital strength. “If the market doesn’t improve and we don’t have …
July 15, 2010
Warren Buffett’s Berkshire Hathaway Inc. will take over asbestos and environmental pollution risks now held by CNA Financial Corp. in exchange for a $2 billion fee. CNA, which is the nation’s seventh-largest commercial insurer and 90 percent-owned by conglomerate Loews …
July 2, 2010
Earlier this year Tom Bolt took over one of the most important positions at Lloyd’s. As Director of Performance Management, he heads a team that oversees the business plans and the performance of all of Lloyd’s syndicates. His mandate is …
June 28, 2010
Joseph Cassano, a former AIG executive who played a big role in bringing the giant insurer to its knees, will face-off next week with a U.S. panel investigating the causes of the financial crisis. Cassano will rub shoulders with a …
June 23, 2010
Dutch insurer Aegon NV is considering the sale of its U.S.-based Transamerica Reinsurance unit but has decided not to sell its UK arm, as it seeks to concentrate on its most profitable activities. Aegon said on Tuesday any proceeds from …