Amsterdam Financial Services Correspondent
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May 11, 2012

SPECIAL REPORT: The long, lethal shadow of asbestos

BOSTON, May 11 (Reuters) – As anyone in the United States
with a TV or Internet connection probably knows, lawyers want
you if you’ve been exposed to asbestos, and they’re paying to
get you.

At one point earlier this year, 15 of the 100 most expensive
keyword search phrases for click-through ads on Google contained
the word “mesothelioma,” the deadly cancer caused by asbestos
exposure. The single most expensive phrase, online marketing
firm SpyFu reported, was “Florida mesothelioma lawyers,” at
$177.74 per click.

May 7, 2012

Warren Buffett says buying stocks amid market dip

By Ben Berkowitz

(Reuters) – Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) is adding to its shareholdings of two U.S. companies amid a market dip, billionaire investor Warren Buffett said on Monday.

Buffett, Berkshire’s controlling shareholder, also forecast record results this year for Berkshire’s largest non-insurance businesses, among them the railroad BNSF and the utility MidAmerican.

May 6, 2012

Buffett plays down health concern, mulled megadeal

OMAHA, Nebraska (Reuters) – Warren Buffett tried to allay fears of Berkshire Hathaway Inc shareholders about the company’s future after he was diagnosed with prostate cancer, and revealed that he recently tried to make one of the biggest acquisitions of his storied career.

The question of who will succeed Buffett, 81, as chief executive became more of an imperative after Buffett disclosed the diagnosis on April 17.

May 5, 2012

Buffett tries to assure on health, mulled megadeal

, May 5 (Reuters) – Warren Buffett tried to allay
fears of Berkshire Hathaway Inc shareholders
about the company’s future after he was diagnosed with prostate
cancer, and revealed that he recently tried to make one of the
biggest acquisitions of his storied career.

The question of who will succeed Buffett, now 81, as chief
executive has long been a focus of shareholders, and became more
of an imperative after Buffett disclosed the diagnosis last
month.

May 5, 2012

Buffett tries to assure on Berkshire succession

OMAHA, Nebraska (Reuters) – Warren Buffett assured shareholders of Berkshire Hathaway Inc that the company will be in good hands after he steps down, trying to allay fears about Berkshire’s succession plan after revealing he had prostate cancer.

The question of who will succeed Buffett, now 81, as chief executive has long been a focus of shareholders, and became more of an imperative after Buffett disclosed the diagnosis last month.

May 5, 2012

Berkshire meeting starts with ice cream and singing

, May 5 (Reuters) – Berkshire Hathaway
opened its annual shareholder meeting on Saturday with
Chief Executive Warren Buffett doing what any CEO would do for
shareholders — singing with cheerleaders and tossing newspapers
in a contest against local kids.

As many as 40,000 shareholders have descended on Omaha for
the event pegged as the “Woodstock for Capitalism,” and Buffett
did not disappoint with his pre-meeting walk around on the floor
of the local convention center.

May 4, 2012

Berkshire profits double as insurance losses fall

OMAHA, Nebraska (Reuters) – Warren Buffett’s Berkshire Hathaway more than doubled its profit in the first quarter, as the conglomerate’s insurance business was spared from the devastating natural disaster losses that hit the company a year earlier.

The company also benefited from much higher gains in its derivatives portfolio, offset in part by a substantial write-down on one of its bond holdings.

May 4, 2012

Buffett’s lieutenants see economy picking up

OMAHA (Reuters) – All signs point to slow but steady economic growth as consumers gradually increase their spending, senior executives of Warren Buffett’s conglomerate Berkshire Hathaway said on Friday.

Nearly 40,000 Berkshire (BRKa.N: Quote, Profile, Research, Stock Buzz) shareholders are gathering in Omaha this weekend for the company’s annual meeting. While a good bit of Saturday’s Q-and-A is expected to focus on Buffett’s health and succession planning, the “Oracle of Omaha” will inevitably field a number of questions on the economy.

May 2, 2012

Allstate beats Street, derivatives hurt Prudential

By Ben Berkowitz

(Reuters) – Two of the largest insurers in the United States reported diverging fortunes on Wednesday, as Allstate (ALL.N: Quote, Profile, Research, Stock Buzz) handily beat earnings expectations on better margins and lower disaster losses, while currency fluctuations pushed Prudential Financial (PRU.N: Quote, Profile, Research, Stock Buzz) to a substantial net loss of nearly $1 billion.

Allstate, the largest publicly traded home and auto insurer in the country, posted a profit of $766 million or $1.53 per share, compared with a year-earlier profit of $524 million or 98 cents per share.

May 2, 2012

Flood insurance debate resumes as deadline nears

By Ben Berkowitz

(Reuters) – Federal officials are putting fresh pressure on Congress to take action on the National Flood Insurance Program, whose authorization expires at the end of this month, one day before hurricane season begins.

The NFIP has been a political football in Washington for years, particularly because of the unsustainable debt load it took on in the wake of Hurricane Katrina in 2005. There is a broad push to reform the program and put it on a sound financial footing, but competing visions on that reform (including whether to forgive the program’s debts) have stalled legislation.

    • About Ben

      "Ben Berkowitz covers the insurance industry in New York City. He rejoined Reuters in Amsterdam in May 2009, covering the Dutch banking system and economy. He originally worked for Reuters in Los Angeles and New York from 2001 to 2006 covering everything from video games to oil. In between he was business editor at AOL, head of the editing desk at AP Business News and managing editor of Fidelity.com."
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