Succession PlanningHow do you replace an emblematic leader while maintaining the essence of that which they formerly led?
Jain joins Berkshire Hathaway board as Buffett lines up successorLongtime Warren Buffett lieutenant and mooted successor Ajit Jain has been named to the Berkshire Hathaway board as vice chairman of insurance operations in a move that the legendary investor said prepares the way for his eventual successor.
Berkshire Hathaway posts $3bn losses from 3Q cat eventsBerkshire Hathaway is behind only Lloyd’s, Munich Re and Swiss Re in the size of net losses from the brutal roll-call of catastrophe events in the third quarter.
AIG shares slump on $836mn reserve charge and earnings missAIG saw its share price fall 4 percent in early trading on the NYSE (3 November) after missing its third quarter earnings estimate following another large prior year reserve charge in addition to its pre-announced $3bn hit from the recent nat cat events.