Tag: Berkshire Hathaway insurance

Insurance news from Berkshire Group includes GIC deal withdrawal

H. Cutner
Insurance news Berkshire GIC deal

The two companies had previously come to an agreement, but the latter has failed to uphold its side. The Berkshire Group has made insurance news as it just revealed that it is pulling out of a deal that it had with General Insurance Corporation (GIC), a company from India, ending an agreement that was supposed to continue for a period of three years. However, GIC has paid the premiums for only two quarters, losing the reinsurance business at Berkshire. The three year contract made insurance news when GIC failed to…

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Insurance news from Berkshire reveals 51 percent profit increase

G. Turner
Insurance News Profits

The company has just released its profit statements for its investments within this industry. Berkshire Hathaway has just announced its latest insurance news, saying that its net income rose to reach $4.89 billion, which translates to $2,977 per share, in a statement that it has released. This is a massive increase over a year earlier at $3.25 billion, which was $1,966 per share. The company, based in Omaha, Nebraska, said that this insurance news also includes its $2,302 per share operating profit, which does not include some of its investment…

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Berkshire Hathaway announces Q1 2012 insurance unit profit doubling

The company made this announcement in preparation for the annual meeting with Chairman Warren Buffet. Berkshire Hathaway Inc. has announced its first quarter profit as having doubled following derivative bets and insurance units that performed significantly better than anticipated. The company’s net income rose to $3.25 billion, which means $1,966 per share. In 2011 at the same time, it reported an income of $1.51 billion, which was $917 per share. The lower numbers last year were blamed on the losses from the claims made following the Japan earthquake and Tsunami.…

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Online charity auction sells lunch with Buffett for $2.63 Million

A charity auction held online using eBay has sold a lunch at Manhattan’s Smith & Wollensky for the winning price of $2.63 million.  This luncheon will allow the anonymous winner to have the opportunity to eat in the company of Warren Buffett, the renowned investor and the biggest name in the insurance business.   The Oracle of Omaha charity online auction is an annual event, and this year’s results came in on Friday, June 10, 2011, after two bidders on eBay vied back and forth eight times since the auction started…

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