July 30- Allstate Corp, the largest publicly traded home and auto insurer in the United States, reported a 48.6 percent rise in quarterly profit as net written premiums rise and operating expenses fall.» Read More
I didn't post yesterday because I was in Philadelphia shooting a story for an upcoming episode of "The Business of Innovation" on CNBC. It's a piece about big pharma and we went to Philly to interview the still very busy former CEO of Merck (two CEOs ago), Dr. Roy Vagelos.
Europe's biggest insurer Allianz unveiled writedowns from the global financial crisis of 900 million euros ($1.4 billion) in the first quarter and said the turmoil could endanger its medium-term goals.
Insurer and takeover target Insurance Australia Group said on Monday it has lowered its insurance margin forecast for fiscal 2008 to 6-8 percent due to storm costs and widening credit spreads.
China's top life insurer China Life Insurance reported a 61 percent fall in first-quarter profit, according to Chinese accounting standards, dented by a poor investment performance.
Warren Buffett's new municipal bond insurer has received its second AAA credit rating, just months after it was created in response to the stumbles of veteran insurers like Ambac and MBIA. That's much faster than executives at those companies and some analysts had predicted.
Don't touch the bond insurers, Cramer says. Instead, go with these.
Auto and home insurer Liberty Mutual Group has agreed to buy property and casualty insurer Safeco for $6.2 billion in a deal that would make Liberty Mutual the fifth largest U.S. property and casualty insurer.
European shares fell on Thursday, led lower by Nokia after the world's biggest maker of mobile phones failed to impress investors with its outlook, dragging down other technology and telecom stocks.
Munich Re's CEO says Warren Buffett's Berkshire Hathaway holds a stake in the German reinsurer.
The world's biggest pharma company is stepping up to the plate again. After the closing bell today PFE announced it's doing a deal worth up to $440 million over time with a baby biotech called Avant Immunotherapeutics.
The resignation of General Re's CEO, apparently in response to pressure from Federal prosecutors, is generating some heated debate on whether Washington should stay out of Warren Buffett's boardroom. See Closing Bell's heated discussion on the issue.
QBE Insurance Group, Australia's biggest insurer by premium income, said on Tuesday smaller rival Insurance Australia Group had rejected a $6.8 billion takeover proposal.
FGIC, whose main unit is a bond insurer, said on Monday it is looking at strategic alternatives to boost its capital and protect policy holders, including setting up a new insurer that would focus on municipal bonds.
In the "You don't say?" file, the U.S. Geological Survey is predicting that California has a "99.7 percent chance" of getting hit by an earthquake of magnitude 6.7 or worse in the next 30 years. This information is used by insurance companies in setting earthquake policy rates.
General Re Chairman and CEO Joseph Brandon, who had once been seen as a possible successor to Warren Buffett, has resigned. He apparently fell victim to pressure from the Federal government to have him ousted.
Berkshire Hathaway Assurance Corp., Warren Buffett's fledgling bond insurer, has received AAA financial strength and financial enhancement ratings from Standard & Poor's Rating Services, the top rating available.
The German national newspaper Frankfurter Allgemeine Zeitung, often referred to as FAZ, will report in tomorrow's (Thursday) edition that Warren Buffett's Berkshire Hathaway has bought one million shares of Munich Re over the past six months.
The Federal government is trying to get Warren Buffett to fire one of his top executives on a question of integrity, according to The Wall Street Journal. Citing "people familiar with the situation," today's Journal says, "Federal prosecutors are pressuring Berkshire Hathaway to replace the chief executive of its reinsurance subsidiary, General Re." General Re CEO Joseph Brandon has not been formally charged with any crime, but the Journal says, "Prosecutors identified Mr. Brandon as an unindicted alleged co-conspirator" in a series of bogus deals designed to artificially inflate AIG's earnings and its stock price.
The Star-Ledger of New Jersey this weekend did a story that I think provides the best insight and backstory about what happened last week at the highest levels of Schering-Plough.CEO Fred Hassan was in Miami when doctors dropped the bomb on Vytorin and Zetia at the American College of Cardiology meeting.
Asia will contribute about 20 percent of Swiss Re's global revenues within three to five years, up from 11 percent now, a senior executive at the world's largest reinsurer said on Wednesday.
Get the best of CNBC in your inbox