Industry News
The Big Tease: Buffett Remains Mum About His Chosen Successor
Warren Buffett didn't spill the beans about his already-chosen successor in his latest annual letter to Berkshire Hathaway shareholders. Long-time vice-chairman Charlie Munger fueled continued ...
Special Report: A Closer Look at Berkshire Hathaway’s Insurance Operations
Insurance operations contributed $5.2 billion to total operating income of $16.6 billion for Berkshire Hathaway in 2014—with the underwriting component of $1.7 billion (after taxes) representing ...
Buffett, Munger on Leadership, Success in Business
The Berkshire Hathaway 2014 Annual Report includes discussions from Chair Warren Buffett and Vice Chair Charlie Munger about leadership and success in the insurance business. Some excerpts follow. ...
A.M. Best Affirms AIG P/C Subs Despite Reserve Deficiency
Although A.M. Best says property/casualty insurance loss reserves at American International Group remain deficient, the rating agency affirmed the "A" financial strength rating of AIG's U.S. and ...
Regulatory Vetting Prompts One-in-10 to Decline Financial Leader Jobs in U.K.
More than one in 10 people picked for the top jobs in British finance pull out during a regulatory vetting process which has got tougher since the financial crisis. People put forward for chief ...
AIG’s Former CEO Benmosche Has Died
American International Group Inc. has announced the death of its former president and chief executive officer, Robert H. Benmosche. Benmosche, 70, died on Friday morning at NYU Langone Medical ...
Third Point Re’s CEO Sees ‘Opportunities’ in Remaining Independent
While many property/casualty reinsurers have forged M&A deals and others are likely to follow, Third Point Reinsurance's CEO said he sees plenty of business opportunities for the Bermuda-based ...
Fairfax Financial to Benefit From its Acquisition of Brit plc: Moody’s
The proposed acquisition of Brit plc by Fairfax Financial Holdings is "credit positive" for Fairfax, according to Moody's, which noted that the deal will significantly boost Fairfax's underwriting ...