Warren Buffett said Sunday his Berkshire Hathaway Inc. insurance and investment company may be “close” to buying a medium-sized British company and “will look” at Royal Bank of Scotland Plc’s possible divestiture of its insurance unit. Earlier Sunday, the Sunday …
Warren Buffett’s Berkshire Hathaway Inc. said Friday that first- quarter profit tumbled 64 percent, hurt by losses tied to derivatives contracts and a steep slide in insurance premiums. Net income for the Omaha, Nebraska-based insurance and investment company fell to …
Travelers Insurance is consolidating some of its personal lines business center activities across the country, a plan that will mean fewer jobs in Massachusetts and New Jersey but more in upstate New York. Travelers Personal Lines is consolidating some “non-customer …
Few 77-year-olds could hold thousands of people in rapt attention for five hours. Sean Connery, maybe; Clint Eastwood, perhaps. Warren Buffett? Definitely. Buffett will be the center of attention on Saturday (May 3) at the annual shareholder meeting for Berkshire …
Warren Buffett, the world’s richest person, said on Monday the U.S. economy is in a recession that will be more severe than most people expect. Buffett made his comments on CNBC television after his Berkshire Hathaway Inc. agreed to invest …
Billionaire Warren Buffett’s new municipal bond insurance company Friday won the top “AAA” rating from Standard & Poor’s Ratings Services, which cited the venture’s nearly $1 billion surplus. Berkshire Hathaway Assurance Corp. has been granted licenses by 48 states and …
Warren Buffett’s Berkshire Hathaway Inc. said Joseph Brandon has decided to resign as chairman and chief executive of its General Re Corp reinsurance unit, effective Monday. Franklin “Tad” Montross, General Re’s president, will replace Brandon as chairman and chief executive. …
Standard & Poor’s Ratings Services has assigned its ‘AAA’ financial strength and financial enhancement ratings to Berkshire Hathaway Assurance Corp. (BHAC). S&P also assigned its ‘AAA’ financial enhancement rating to Columbia Insurance Co. The outlook on both these entities is …
Federal prosecutors want Berkshire Hathaway Inc. to replace the chief executive of its reinsurance subsidiary after four former executives of the company were convicted in February, according to a person familiar with the negotiations. Prosecutors and Berkshire Hathaway attorneys on …
The Massachusetts state pension fund cannot and should not start a bond insurer, executive director Michael Travaglini said Monday. Travaglini, who oversees the $52 billion Pension Reserves Investment Management Board, said pension funds should not be in the business of …
