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Oct 7, 2009

Verisk soars in stock debut, helped by Buffett support

NEW YORK (Reuters) – Verisk Analytics Inc <VRSK.O>, an insurance services firm partly owned by Warren Buffett’s Berkshire Hathaway, soared in its first day of trading on Wednesday, and stirred hopes that the appetite for such offerings is warming.

Shares of Verisk rose nearly 24 percent in their first day of trading on Nasdaq, after the company completed the largest IPO by a U.S. company in 18 months. Verisk shares gained $5.22 to close at $27.22, after touching $28.97 earlier in the trading session.

Oct 7, 2009

Verisk soars in debut, paving way for other IPOs

NEW YORK (Reuters) – Verisk Analytics Inc <VRSK.O>, an insurance services firm partly owned by Warren Buffett’s Berkshire Hathaway Inc <BRKa.N> <BRKb.N>, soared in its first day of trading on Wednesday, raising hopes that investor appetite for such offerings has been reignited.

Shares of Verisk rose as much as 32 percent in their first day of trading on Nasdaq on Wednesday, after the company completed the largest IPO by a U.S. company in 18 months. Verisk shares were up $5.50 at $27.50, or 25 percent higher, in afternoon trading; they went as high as $28.97 earlier.

Oct 6, 2009

AIG exec picked to lead Allstate life insurance unit

NEW YORK, Oct 6 (Reuters) – Allstate <ALL.N>, the largest
publicly-traded auto and home insurer, said on Tuesday that it
had picked AIG executive Matthew Winter to be the chief
executive of its troubled life insurance division.

Winter, a vice-chairman at American International Group Inc
<AIG.N>, will leave AIG effective Oct. 19, according to an
internal AIG memo dated Oct. 6 and obtained by Reuters.