Fitch Ratings has revised the Rating Outlook to Negative from Stable on the ‘AAA’ long-term issuer and unsecured senior debt ratings of Berkshire Hathaway Inc. (Berkshire) and its wholly-owned subsidiary GEICO Corporation (GEICO). GEICO’s debt ratings are based on the …
The waters of the finite reinsurance ocean continue to roil, as the Australian Prudential Regulation Authority (APRA) announced that it has launched an investigation into “certain reinsurance practices” involving the Australian subsidiary of Berkshire Hathaway’s General Re. The probe is …
Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory filing. The disclosure came on Tuesday, the same day …
On the day when billionaire investor Warren Buffett was interviewed by investigators and said he told them everything he knew, Maurice Greenberg, former chairman of American International Group, revealed that he would not be able to answer questions when he …
New York Attorney General Eliot Spitzer said he disagrees with former CEO Maurice Greenberg’s attorney that accounting mistakes at American International Group were insignificant in their impact. Spitzer also clarified that billionaire investor Warren Buffett is only a witness in …
Berkshire Hathaway’s Buffett on Insurance Economics, 2004 Results By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5 percent fell short of the S&P …
Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors, ending his more than 40-year relationship with AIG. Also, Warren Buffett, the well-known investor and chairman of Berkshire Hathaway, owner of General Reinsurance, one of …
The Wall Street Journal reported that Berkshire Hathaway’s National Indemnity Co. has turned over a $2 million premium payment to the Australian liquidator in charge of the bankrupt company HIH Insurance. Once Australia’s second largest insurance group, HIH collapsed in …
Berkshire Hathaway Inc. Chief Executive Officer Warren Buffett has acknowledged that he will voluntarily speak with investigators next month while also moving to correct several press reports concerning the ongoing investigation of certain reinsurance transactions involving his firm’s General Reinsurance …
The various investigations of giant insurer American International Group are continuing to take their toll. Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors later this week, ending his more than 40-year relationship with …
