Lilla's Feed
Nov 17, 2009

Lincoln Nat sees eventual govt OK to repay TARP

NEW YORK, Nov 17 (Reuters) – Lincoln National Corp <LNC.N>,
a large U.S. life insurer that took a $950 million bailout from
the U.S. Treasury, is confident it will get the green light to
repay the funds when it is ready to do so, its CEO said.

“When we get to the point that we want to repay, we are
pretty confident the conversations will go well,” CEO Dennis
Glass said on Tuesday at Lincoln’s investor day.

Nov 13, 2009

AIG’s Chartis not seeing employee exodus: CFO

NEW YORK (Reuters) – Bailed out insurer American International Group Inc’s <AIG.N> global property-casualty division has not seen an exodus of employees because of pay limits imposed by Washington, the unit’s chief financial officer said on Thursday.

Robert Schimek praised AIG Chief Executive Robert Benmosche — who reportedly was distressed enough about pay curbs to threaten to quit recently — for standing up for employees.

Nov 7, 2009

Berkshire reinsurance volume limited by Burlington

NEW YORK, Nov 6 (Reuters) – Warren Buffett’s Berkshire
Hathaway Inc <BRKa.N> <BRKb.N> said it plans to limit the
amount of business underwritten by its reinsurance operations,
as it prepares to spend roughly $26 billion to buy railroad
operator Burlington Northern Santa Fe Corp <BNI.N>.

The disclosure, made in Berkshire’s quarterly report
released Friday, suggests that Buffett remains cautious about
deploying the company’s resources to pursue higher volumes in
its insurance operations, even if it means lower near-term
profitability.

Nov 6, 2009

Berkshire Hathaway’s net income triples

NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

Results were announced three days after Buffett revealed the biggest acquisition in his 44 years running Berkshire, a $26 billion takeover of Burlington Northern Santa Fe Corp. Berkshire had already owned 23 percent of the nation’s second-largest railroad operator.

Nov 6, 2009

Warren Buffett’s Berkshire says net income triples

NEW YORK, Nov 6 (Reuters) – Warren Buffett’s Berkshire
Hathaway Inc <BRKa.N> <BRKb.N> on Friday said quarterly
earnings tripled, as rising stock markets boosted its
investment holdings and a quiet hurricane season contributed to
higher insurance profit.

Results were announced three days after Buffett revealed
the biggest acquisition in his 44 years running Berkshire, a
$26 billion takeover of Burlington Northern Santa Fe Corp
<BNI.N>. Berkshire had already owned 23 percent of the nation’s
second-largest railroad operator.

Nov 6, 2009

AIG posts second straight profit

NEW YORK (Reuters) – AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.

“It is clearly still a troubled company,” said CreditSights analyst Rob Haines. “Its operations are clearly weaker than some of its higher quality competitors. AIG used to be one of those companies.”

Nov 6, 2009

AIG posts 2nd straight profit, insurance weak

NEW YORK, Nov 6 (Reuters) – AIG, the giant insurer bailed
out by the U.S. government, posted its second straight
quarterly profit, helped by recovery in the value of its
investments, but its underlying business remained weak and itsshares fell.

“It is clearly still a troubled company,” said CreditSights
analyst Rob Haines. “Its operations are clearly weaker than
some of its higher quality competitors. AIG used to be one of
those companies.”

Nov 4, 2009

Allstate posts quarterly profit, misses Street

NEW YORK, Nov 4 (Reuters) – Allstate Corp <ALL.N>, the
largest publicly traded U.S. home and auto insurer, swung to a
profit on Wednesday from a large year ago loss, helped by
stronger revenue, and fewer catastrophe claims.

A year ago, hurricanes Gustav and Ike were largely
responsible for $1.82 billion in catastrophe losses, leaving a
gaping hole in Allstate’s results. Investment losses from the
rapid erosion in credit markets added to its wounds.

Nov 4, 2009

Are soon-to-be split Berkshire shares a good buy?

NEW YORK (Reuters) – Billionaire Warren Buffett surprised investors on Tuesday when he backtracked on a long-standing aversion to splitting the stock of his company, Berkshire Hathaway <BRKa.N> <BRKb.N>.

In a letter to shareholders in 1983, Buffett said splitting the stock could attract “inferior” investors, and had stuck to that tune until now.

Nov 4, 2009

More people now likely to invest with Buffett

NEW YORK (Reuters) – If you always wanted to invest alongside Warren Buffett, but found it too expensive, you now have your chance.

Buffett’s decision to conduct a 50-for-1 split of Class B shares of his Berkshire Hathaway Inc lowers the price of entry for ordinary investors who long found it prohibitively costly to buy the stock.