Tag: Berkshire Hathaway

Insurance news from Buffet’s firm shoes less reliance on the industry

Julie Campbell
Insurance News - Warren Buffett, CEO of Bershire Hathaway

Berkshire Hathaway investors are looking toward a positive future. The insurance news that followed shortly after Warren Buffet’s birthday has indicated that while there is a positive future for investors in Berkshire Hathaway, there will need to be decisions made after the great man is no longer at the helm. Shareholders are wondering about the evolution of the company after Buffet’s contributions. Berkshire is currently made up of over 80 businesses that brought in over $3 billion in profit during the last quarter. It has a Class A stock that…

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Berkshire India announces intentions to sell either health or life insurance

H. Cutner

A branch of Berkshire Hathaway – a firm owned by Warren Buffet – called Berkshire India has announced that it will be selling either Bajaj Allianz life or health insurance products to consumers in India. Bajaj Allianz corporate agent, Berkshire India is already providing retail customers with online travel and auto insurance products through its distribution website. However, according to Arun Balakrishnan, the CEO of BerkshireInsurance.com, within the upcoming six months, the insurer plans “to launch one more product which would be either health insurance or term life product.” Their…

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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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Worldwide disasters push commercial insurance rates higher

Nordstrom

In the past 16 months, natural disasters all over the world have cost the insurance industry more than $100 billion. The financial impact of these catastrophes is compounded by the worldwide recession which severely impaired the industry as a whole. Insurers are struggling to reassert themselves in the world as the economy improves, and the only way to do so is by offsetting the cost of natural disasters with higher insurance premiums. Some commercial companies have already begun the process, raising rates on commercial insurance for the first time in…

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