News from Wall Street Journal:

By ERIK HOLM

Warren Buffett’s Berkshire Hathaway Inc. said fourth-quarter profit fell 30% as the conglomerate’s insurance units struggled and derivatives bets added less to the bottom line.

The fourth-quarter profit of $ 3.05 billion, or $ 1,847 per class A share, compares with a profit of $ 4.38 billion, or $ 2,663 per class A share, in the same period a year earlier.

Berkshire’s insurance operations, one of the largest portions of the company, reported a $ 107 million underwriting loss, compared with a profit of $ 414 million a year earlier. The loss was driven by its car insurer, Geico Corp., and Berkshire Hathaway Reinsurance Group.

Mr. Buffett has long appreciated the insurance business because he can invest cust……….. continues on Wall Street Journal.

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