Markets
Staff Cuts Help Fuel GEICO Profit; Not ‘Pouring Money’ Into AI: Jain
He's not yet ready to declare "mission accomplished," but Ajit Jain, vice chair of Berkshire Hathaway's insurance operations, said the conglomerate's personal auto insurer, GEICO, is no longer ...
Berkshire’s Abel: Utility Ops Rethink Wildfire Approach Amid Litigation
Berkshire Hathaway Vice Chairman Greg Abel said on Saturday that "keeping the lights on" is no longer a priority for the conglomerate's utilities when the threat of wildfires becomes excessive. Abel ...
Buffett to Step Down Following Six-Decade Run Atop Berkshire
Warren Buffett, who built Berkshire Hathaway Inc. into a business valued at more than $1.16 trillion and himself into a celebrity billionaire renowned for his investing acumen and witticisms, will ...
Average U.S. Vehicle Age Approaching 13 Years, New Report Shows
Cars on the road are more than a dozen years old on average and they're getting older. The average age of U.S. vehicles on the road rose to 12.7 years in 2024 and is expected to hit 13 years by 2026, ...
LA Fire Investigation Will Take a Year or More, Edison CEO Says
The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International's utility equipment as the possible cause, according to the ...
World’s First Catastrophe-Bond ETF Falters in ‘Crazy’ Market
The world's first-ever exchange-traded fund based on catastrophe bonds has failed to get the seed capital it expected after launching on the eve of the Trump administration's tariff war. "Some of our ...
CRC Group Acquires ARC in E&S Deal
Independent insurance wholesaler CRC Group said it has acquired specialty wholesale distributor ARC Excess & Surplus. Terms were not disclosed. ARC was founded in 1986 by Chris Cavallaro as a ...
Florida Class Action Targets Litigation Funding Firm Over Data Breach
Third-party litigation financing have become big business across the country, much to the chagrin of businesses and insurance companies that have faced multi-million lawsuit verdicts. But now one ...