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December 2, 2008 9:06:46 PM CST


General Reinsurance

General Reinsurance news stories

2 Stories

Berkshire Hathaway's Q4 Income Off 18%

Insurance-industry woes mean 'that party is over,' Buffett says

(Newser) - Citing a decline in gains from insurance underwriting and sluggish investment returns, holding company Berkshire Hathaway said today that fourth-quarter income was off 18%—to $2.95 billion, from $3.58 billion—from a year earlier, the Wall Street Journal reports. Billionaire chairman Warren Buffett snuck in digs at Wall Street and the federal government while effectively promising declining profit margins for years to come. More »

More about:  New York City AIG Warren Buffett Maryland Berkshire Hathaway insurance companies Omaha MBIA Oracle of Omaha Ambac General Reinsurance

Jury Convicts Ex-Insurance Execs in Fraud

Five General Re and AIG officials face
jail over scheme to deceive investors

(Newser) - A federal jury yesterday convicted five former insurance executives of fraud, conspiracy, and making false statements to the Securities and Exchange Commission as part of a scheme to deceive investors, Bloomberg reports. The convictions stem from a sham transaction in 2000 between General Reinsurance Corp. and American International Group that added $500 million in loss reserves to AIG’s accounts to soothe investor concerns. More »

More about:  fraud SEC AIG Warren Buffett Berkshire Hathaway Hank Greenberg American International Group General Re Corp General Reinsurance

2 Stories

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