News
AIG Chairman: Corporate Behavior Can Be “Stupid,” Not Criminal
American International Group Inc. Chairman Steve Miller said prosecutors must distinguish between management blunders and criminal actions when investigating corporate behavior. "A lot of executives ...
P/C Profits Nearly Quadruple for Berkshire in Q3; Premiums Climb 50%
While investment losses pulled net income for Warren Buffett's Berkshire-Hathaway down 8.6 percent to $3.6 billion in third-quarter 2014, a 40 percent jump in operating income for the group's ...
Buffett’s Tesco Investment Fuels 3Q Profit Drop for Berkshire
Warren Buffett's Berkshire Hathaway Inc. said third-quarter profit slipped 8.6 percent on investment results, including an impairment on a holding of U.K. retailer Tesco Plc. Net income fell to $4.62 ...
Validus’ Newly Acquired Western World Ops Lose ‘A+’ A.M. Best Rating
Although rating agency A.M. Best says Validus Holdings' Oct. 2, 2014 acquisition of Western World Insurance Group means greater financial flexibility for the acquired excess and surplus lines ...
Swiss Re’s P/C Reinsurance Unit Excelled in Q3
While the property/casualty reinsurance industry continues to be hammered by heavy competition and soft pricing, Swiss Re can celebrate its 2014 third quarter results. The Zurich company reported a ...
Third Point Re CEO Berger Gains Contract Extension
The board of directors at Bermuda's Third Point Reinsurance Ltd. has renewed the contract of CEO John Berger for another three-year term. Berger will also continue as Third Point's Chief Underwriting ...AIG Closing Georgia Shared-Service Center; 420 Workers Impacted
American International Group Inc., the largest commercial insurer in the U.S. and Canada, is closing an office in Georgia with 420 workers. Some positions at the Alpharetta shared-service center will ...
U.S. Supreme Court Agrees to Hear Obamacare Challenge
The U.S. Supreme Court agreed on Friday to hear a legal challenge to a key part of the Obamacare health law that, if successful, would limit the availability of federal health insurance subsidies for ...