Latest Berkshire Hathaway Headlines

All the headlines from our Berkshire Hathaway Topic Page, ordered by recency.

Connecticut Fines GEICO $178K

Apr 9 2010 // The Connecticut Insurance Department has fined four GEICO subsidiaries a total of $177,500 for improper rating, claim delays and the use of unlicensed adjusters among other violations.The total fine is a result of smaller...

Business Moves

Feb 7 2010 // Swiss Re, Berkshire HathawaySwiss Re concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written...

Berkshire Hathaway Loses ‘AAA’ Ratings from S&P

Feb 5 2010 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating on Berkshire Hathaway Inc. (BRK) to ‘AA+’ from ‘AAA’. S&P also lowered its financial strength...

Swiss Re in $1.268 Billion Deal with Berkshire Hathaway Life Insurer

Jan 19 2010 // Swiss Re has concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The...

Ratings Recap: Berkshire H. (Notes), AXA US, Chartis PR, AGCS Marine

Jan 12 2010 // Standard & Poor’s Ratings Services has assigned its ‘AAA’ senior debt rating to Berkshire Hathaway Finance Corp.’s (BHFC) $1.0 billion senior notes. The notes will have various maturity dates....

Best Affirms Swiss Re and Subs ‘A’ Ratings; Outlook Stable

Dec 15 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Swiss Reinsurance Company Ltd. and its subsidiaries. Best also affirmed...

Zinno Named Vice President and Head of GEICO Insurance Agency

Nov 18 2009 // Insurer GEICO recently named John Zinno a vice president of the company and president of GEICO Insurance Agency, which has offices Virginia and New York. A company subsidiary, GEICO Insurance Agency is a personal lines...

Best Puts Berkshire’s Subsidiaries Ratings under Review/Negative

Nov 9 2009 // A.M. Best Co. joined Standard & Poor’s and Fitch Ratings in placing the financial strength ratings (FSR) and issuer credit ratings (ICR) of the domestic and international P/C and life/health subsidiaries of...

S&P Puts Berkshire Hathaway on Credit Watch – Negative

Nov 5 2009 // Standard & Poor’s Ratings Services has placed its ratings on Berkshire Hathaway Inc. (BRK) and various affiliates on CreditWatch with negative implications following the company’s announcement that it will...

GEICO Opens West Virginia Office

Oct 23 2009 // GEICO hosted the grand opening of its new local office in Morgantown, West Virginia this week. Jim Robinson, local GEICO field representative, heads the Morgantown office. The open house featured GEICO’s official...

GEICO Begins Recruitment for New York Operation

Aug 20 2009 // GEICO has begun taking job applications for its new, Amherst, N.Y. based subsidiary, GEICO Insurance Agency, which will sell and service homeowners, renters, boat and other coverage. Gov. David Paterson joined company...

Cancer Allegations Against Railway Company in Texas to Continue

Jun 29 2009 // Although two juries have sided with BNSF Railway Co. in separate lawsuits claiming chemicals in a railroad tie plant in Central Texas caused cancer, dozens of similar lawsuits will go forward, an attorney said.Jurors...

Ratings Recap: Medical Mutual, Eastern, Kaufmann, Seaworthy

May 15 2009 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb+” of Medical Mutual Insurance Company of...

Insurance ‘Relatively Unaffected by Recession,’ Boasts Berkshire’s Buffett

May 4 2009 // Being a big insurer will cost Berkshire Hathaway Inc. dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said.“We are lucky,” said...

Moody’s Lowers Berkshire Hathaway’s Ratings from Top Tier

Apr 9 2009 // Moody’s Investors Service cut its credit ratings on Berkshire Hathaway Inc from Aaa, the top rating, saying the recession and investment losses at insurance operations of investor Warren Buffett’s holding...

Swiss Re Finalizes Funding Agreement with Berkshire Hathaway

Mar 13 2009 // Swiss Re has announced that the “main terms of the convertible perpetual capital instrument to be issued to Berkshire Hathaway have been finalized.” The funding agreement was announced at the same time as Swiss...

Fitch Lowers Berkshire Hathaway’s ‘AAA’ Rating to ‘AA+’

Mar 13 2009 // Warren Buffett’s Berkshire Hathaway was stripped of its ‘AAA’ credit rating by Fitch Ratings, barely hours after S&P cut General Electric Co’s top-tier rating, as the global financial crisis...

Berkshire Hathaway Dogged by Derivatives, Accounting Rules

Feb 23 2009 // Shares of Warren Buffett’s Berkshire Hathaway Inc. sank last Friday to their lowest level in 5-1/2 years amid concern the insurance and investment company could suffer big losses from bets on world stock markets and...

GEICO Lowers Georgia Auto Rates

Jan 23 2009 // GEICO reports that it is reducing auto insurance rates in Georgia by 2.3 percent on average. The rating plan is already in effect for new policies and will be effective Feb. 8 for renewal policies. GEICO is currently the...

Strategic Planning for an Increasing Direct Writer Marketplace

Nov 16 2008 // The traditional role of an insurance agent in the sale of insurance products to potential policyholders has changed dramatically over the years. Historically, the agent was the customer’s first and only point of...