Warren Buffett’s Berkshire Hathaway Inc. said Friday quarterly profit fell 18 percent, hurt by lower earnings from insurance underwriting and a decrease in investment gains. In his annual letter to Berkshire shareholders, Buffett said insurance earnings may remain under pressure, …
One of Warren Buffett’s newest businesses — insuring municipal bonds — is expanding rapidly into a troubled field as the company backed 112 issues in just the past two days, according to Moody’s Investors Service. “I think it’s rapid growth. …
A federal prosecutor urged a jury in Hartford on Monday to follow the money and convict five former insurance company executives of a scheme to manipulate the financial statements of the world’s largest insurer. “The defendants knew the true deal …
After a month of testimony, jurors in Hartford are expected to begin deliberating this week over the fate of former executives of General Re Corp., a reinsurance company owned by Berkshire Hathaway, without hearing from its chief, billionaire investor Warren …
Troubled bond insurers shouldn’t expect any financial backing from Warren Buffett’s holding company. Buffett told Fox Business News that Berkshire Hathaway Inc. won’t invest in Ambac Financial Group or MBIA Inc. “We could have some kind of insurance transaction with …
A former top executive for General Reinsurance Corp. e-mailed billionaire investor Warren Buffett in 2000 about a reinsurance transaction with American International Group Inc. that triggered a criminal trial, a government postal inspector testified. The testimony emerged in the second …
The former chairman and CEO of the world’s largest insurer initiated a deal that led to five ex-executives being charged in a scheme to manipulate the company’s financial statements, a federal prosecutor said Monday during opening arguments at their trial …
Billionaire investor Warren Buffett has long been revered in the business world, but his importance at a trial involving the world’s largest insurer is hotly contested. The trial starts today in federal court in Hartford for four former executives of …
The Netherlands ING Group announced that it has reached an agreement with Berkshire Hathaway to sell its reinsurance unit NRG N.V. for approximately €300 million ($440 million). ING said the sale is part of its “strategy to focus on its …
Federal prosecutors intend to call billionaire investor Warren Buffett to testify against five former senior insurance executives charged with helping the American International Group to manipulate its financial statements through $500 million in phony transactions, according to court papers filed …
