White Mountains Insurance Group has agreed to buy the U.S. property casualty operations of British insurer CGNU Group for $2.1 billion. The Hanover, N.H-based insurer is also expected to pay $500 million in debt owed by the U.S. unit to …
Reliance Group Holdings Inc. was granted more time from creditors late last month to deal with repaying $237.5 million in bank debt. The troubled insurer said bankers extended the due date to Nov. 10 from Aug. 31. No information was …
Warren Buffett’s magic touch has gone on vacation for a spell. Berkshire Hathaway’s second quarter operating profit fell 18 percent. Much of the loss is attributed to deteriorating underwriting in its insurance operations, including GEICO and reinsurers General Re and …
Reliance Group Holdings has agreed to work with insurance regulators as it sells off parts of its business in an effort to pay off more than $700 million in debt. The company’s main operating unit, Pennsylvania-based Reliance Insurance Co., agreed …
Warren Buffett’s magic touch has gone on vacation for a spell. Berkshire Hathaway’s second quarter operating profit fell 18 percent. Much of the loss is attributed to deteriorating underwriting in its insurance operations, including GEICO and reinsurers General Re and …
General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway Inc., completed its analysis of strategic alternatives for General Re Financial Products (GRFP), determining that it will resume its activities with some changes. Berkshire Chairman Warren Buffett said he “unequivocally” …
General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway Inc. has completed its analysis of strategic alternatives for General Re Financial Products (GRFP), determining that it will resume its activities with some changes. Mark J. Byrne, president and chief …
Warren Buffett told shareholders over the weekend that he is solely to blame for the poor performance of Berkshire Hathaway over the last year. Berkshire’s 1999 earnings dropped 42 percent from $2.8 billion the previous year to $1.6 billion. And …
