insurance industry – News Stories About insurance industry - Page 2

Feb 28, 2009 10:11 AM CST

Buffett Has Worst Year Ever

(Newser) - Not even legendary investors can escape this mess. Warren Buffett’s Berkshire Hathaway posted its worst year ever in 2008, the Wall Street Journal reports. A key indicator, book value per share, fell 9.6%, only the second loss since Buffett took control of the company in 1965. Berkshire reported...

Now You Can Buy Insurance for Insurance

Dec 3, 2008 9:23 AM CST

Now You Can Buy Insurance for Insurance

Think you'll lose health coverage? Firm will insure your right to it

(Newser) - Healthy and insured but afraid you might someday lose your medical coverage? UnitedHealth has just launched a new product that lets consumers pay now for the guarantee that they’ll be able to get insurance later—even if they get sick, the New York Times reports. Critics are skeptical of...

Bailout Expands to Include Big Insurers

Oct 25, 2008 10:33 AM CDT

Bailout Expands to Include Big Insurers

Feds look beyond AIG and banking industry to MetLife, others

(Newser) - The Treasury’s bailout is moving beyond banks to include major insurance firms hurt by bad investments, the Washington Post reports. Companies such as MetLife, the Hartford, and Prudential hope to be covered in the plan, under which the government would provide money in exchange for ownership stakes. Big insurers...

Insurance Guzzles Savings From Fuel-Efficient Cars

Oct 23, 2008 11:07 AM CDT

Insurance Guzzles Savings From Fuel-Efficient Cars

Trading down to save money on gas results in higher premiums

(Newser) - Think you’re saving money by driving that small, fuel-efficient car you traded in your SUV for? Maybe, but you’re probably paying more for your insurance—a lot more, reports the Wall Street Journal. In accidents, small cars tend to sustain more damage, and occupants more injures, than larger...

AIG Chief Defends Luxe Retreat

Oct 8, 2008 4:00 PM CDT

AIG Chief Defends Luxe Retreat

(Newser) - AIG today defended the $440,000 luxury retreat it held on the heels of an $85 billion federal bailout, the Wall Street Journal reports. In a letter explaining its actions to the US Treasury, CEO Edward Liddy explained that the event—which racked up a $23,000 spa bill— was...

AIG Seeks $40B Fed Loan
in Bid to Prevent Collapse

Sep 15, 2008 2:25 AM CDT

AIG Seeks $40B Fed Loan in Bid to Prevent Collapse

Insurance giant tries to stave off credit downgrade, aims to sell assets

(Newser) - In yet another Wall Street meltdown, floundering insurance giant American International Group has turned to the federal government in a bid to stave off a threatened credit-rating downgrade that could trigger the firm’s immediate collapse, reports the New York Times. AIG has requested a $40 billion bridge loan from...

Embattled AIG CEO Steps Down

Jun 15, 2008 3:43 PM CDT

Embattled AIG CEO Steps Down

Board replaces Sullivan with Citi exec Willumstad

(Newser) - Martin Sullivan has stepped down as AIG's CEO, and the company's board named chairman Maurice Willumstad his successor, insiders tell the Wall Street Journal. The insurance giant's stock has plummeted more than 50% since October due to subprime writedowns, and Sullivan is still embroiled in legal battles with his former...

US in Recession Now: Buffett

Mar 4, 2008 3:28 AM CST

US in Recession Now: Buffett

Billionaire says crisis is already here

(Newser) - The US is already in a recession for all practical purposes, even if economic conditions haven't yet met the technical definition of at least two consecutive quarters of negative growth. That's the verdict of billionaire investor Warren Buffett, who tells CNBC that a serious economic slowdown is obvious in reports...