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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...The company’s short-term Treasury portfolio and cash generated north of $115mn in interest income for Berkshire’s insurance unit every week last year — or some $6.1bn —, eclipsing the $5.5bn it earned in...
...Here is how the shares of those companies were performing on Thursday afternoon: Apple was down 1.3 per cent. Berkshire trimmed its holding in the tech giant Paramount was down 5.3 per cent....
...That dwarfs its second-largest publicly traded investment: Bank of America....
...Warren Buffett’s Berkshire Hathaway on Tuesday said it had taken full control of truck stop operator Pilot Corporation, days after the sprawling railroad-to-insurance conglomerate settled an acrimonious...
...Berkshire Hathaway, Berkshire Hathaway Energy and HomeServices of America did not immediately respond to a request for comment....
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...In his latest shareholder letter Warren Buffett said his company Berkshire Hathaway, at its size and maturity, should “operate with materially less risk of permanent loss of capital”....
...Berkshire is such an institution in American life, and my guess is that it does a lot of non-economic good....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...The Knoxville-based company is the largest business of its kind in America with more than 750 locations in the US and Canada and 30,000 employees....
...In his latest shareholder letter, Warren Buffett said his company Berkshire Hathaway, at its size and maturity, should “operate with materially less risk of permanent loss of capital”....
...The Omaha native helped transform the company, once a struggling textile maker, into an industrials and insurance behemoth....
...It was Munger who accidentally revealed that Greg Abel, who had risen through Berkshire’s energy business and is now vice-chair of its sprawling non-insurance unit, would one day succeed the pair....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...Outside of insurance, Berkshire’s earnings underscored the uneven economic growth that has confounded economists and much of the investing world....
...of Berkshire....
...The point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...The sprawling conglomerate is now worth more than $780bn, with stakes in Apple, Coca-Cola and Bank of America as well as ownership of the BNSF railroad and Geico insurer....
...The energy division also encompasses HomeServices of America, a real estate brokerage enmeshed in its own litigation....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
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