Four former senior executives of Berkshire Hathaway’s General Re Corp. and a former senior executive of American International Group Inc. were indicted Wednesday on charges they participated in a scheme to manipulate AIG’s financial statements, prosecutors said. The indictment alleges …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A++” (Superior) and the issuer credit ratings (ICR) of “aa+” for the Delaware-based General Re Group. Best said the ratings apply to General Reinsurance Corp. (Delaware) and its core …
Omaha, Neb.-based Berkshire Hathaway Inc., billionaire Warren Buffett’s investment vehicle, reported Friday that second-quarter earnings jumped 62 percent on strength in its investments and insurance and utility businesses. Berkshire earned $2.35 billion, or $1,522 per share, for the three months …
Federal bank regulators have halted for six months any new approvals of the sort of industrial banks that Wal-Mart, Home Depot and 12 other companies are seeking to own. The Federal Deposit Insurance Corp. imposed the moratorium on approving the …
Berkshire Hathaway, Iscar Berkshire Hathaway completed the acquisition of 80 percent of Iscar Metalworking Companies. Berkshire announced in May that it would pay $4 billion for the stake in the privately held Israeli company, which makes metal cutting tools. The …
Washington state’s insurance commissioner fined four Geico Inc. insurance companies $120,000, alleging they used an unapproved scoring model to evaluate and offer personal auto coverage to consumers two years ago. Insurance Commissioner Mike Kreidler said the companies — Government Employees …
Washington state’s insurance commissioner fined four Geico Inc. insurance companies $120,000, alleging they used an unapproved scoring model to evaluate and offer personal auto coverage to consumers two years ago. Insurance Commissioner Mike Kreidler said the companies – Government Employees …
A Federal Reserve official raised concerns this week about nonfinancial companies such as Wal-Mart and Home Depot establishing banks. Legislation to block such arrangements has been moving forward in the House. The two retailers are among 14 companies awaiting approval …
Berkshire Hathaway said Wednesday that it had completed the acquisition of 80 percent of Iscar Metalworking Companies. Berkshire announced in May that it would pay $4 billion for the stake in the privately held Israeli company, which makes metal cutting …
With Wal-Mart and Home Depot among a record number of companies awaiting federal approval to open banks, legislation to block this special kind of bank is gaining momentum, a senior House lawmaker said. Thirteen companies, a record number, have joined …
