Charles and David Koch, the billionaire brothers who run Wichita, Kansas-based Koch Industries Inc., added $1.3 billion to their collective fortune yesterday on reports that U.S. industrial production gained more than forecast. The surge elevated their net worth to more than $100 billion, according to the Bloomberg Billionaires Index.
Berkshire Hathaway Inc. will sell rubber ducks of Chairman Warren Buffett and Vice Chairman Charles Munger wearing Mexican-themed outfits at the company’s annual meeting, which falls two days before Cinco de Mayo.
Aon Plc, the broker that was criticized by Lloyd’s of London for a deal with Warren Buffett’s Berkshire Hathaway Inc., said the relationship actually helps make the U.K. insurance market more attractive.
Liam McGee, the chief executive officer of Hartford Financial Services Group Inc., had his compensation increase 58 percent last year as he presided over a stock surge and sold assets to narrow the company’s focus.
Axa SA is exploring the sale of a U.S. subsidiary that shoulders risks tied to variable annuities, as Europe’s second-largest insurer narrows its focus in North America, according to people familiar with the matter.