Berkshire Hathaway Inc.’s insurers dodged the worst of losses caused by Hurricane Florence as the businesses kept up their rebound from a rough 2017. The company’s operating profit doubled last quarter, capitalizing on trends ranging from more train traffic on …
Warren Buffett’s Berkshire Hathaway Inc. said Friday that its third-quarter profit fell 43 percent because of a $1.4 billion insurance underwriting loss from Hurricanes Harvey, Irma and Maria and earthquakes in Mexico. The Omaha, Nebraska-based conglomerate owns Geico and several …
The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every year since 2002. That streak could …
Billionaire Warren Buffett says the storm damage in Texas is staggering, but he isn’t sure yet how much insurance companies will have to pay in claims. Buffett’s Berkshire Hathaway conglomerate owns Geico and several other insurers, so his company will …
Gen Re, a Berkshire Hathaway Company, announced several planned organizational changes prompted by Gerard Lynch’s announcement that he will be retiring December 31, 2014. Lynch has been chairman and CEO since founding New England Asset Management (NEAM) in 1984. Effective …
Warren Buffett says the rate of disasters that Berkshire Hathaway’s insurance companies see hasn’t changed because of extreme weather. Buffett said on CNBC Monday that he hasn’t made any change in the way he calculates the likelihood of a catastrophe …
Warren Buffett’s Berkshire Hathaway Inc. will begin selling coverage through its specialty insurance unit to businesses to help manage costs of responding to reputation-damaging events. The new coverage provides as much as $100,000 to hire a crisis-management consulting firm to …
Credit rating agency Standard & Poor’s on Thursday cut its rating on Berkshire Hathaway Inc., the insurance and industrial conglomerate controlled by billionaire investor Warren Buffett, by one notch, citing the company’s reliance on its insurance operations for dividend income. …