Berkshire Hathaway in profit

Berkshire Hathaway said Q1 net underwriting earnings rose from $66m last year to $462m and H1 earnings rose from $268m last year to $688m.

All four insurance businesses made profits after Berkshire Hathaway Re made losses last year, but General Re saw profits falls on the back of catastrophe costs.

Premiums earned $m

• Geico Q1 3,554 (3,394) H1 7,008 (6655)
• General Re Q1 1,373 (1,426) H1 2,813 (2,805)
• Berkshire Hathaway Reinsurance Q1 1,546 (1,210) H1 3,653 (4,297)
• Berkshire Hathaway Primary Q1 391 (455) H1 816 (911)
• Investment Q1 1,500 (1497) H1 2,802 (2,863)
• Total insurance Q1 8,364 (7982) H1 17,092 (17,531)

Pre-tax earnings $m

• Geico Q1 329 (111) H1 628 (259)
• General Re Q1 222 (276) H1 183 (260)
• Berkshire Hathaway Reinsurance Q1 117 (-318) H1 169 (-141)
• Berkshire Hathaway Primary Q1 48 (29) H1 81 (33)
• Net investment Q1 1,494 (1,482) H1 2,777 (2,836)
• Total Insurance Q1 2,210 (1,580) H1 3,838 (3,247)

Underwriting gain/loss

• Geico Q1 329 (111) H1 628 (259)
• General Re Q1 222 (276) H1 169 (141)
• Berkshire Hathaway Q1 117 (-318) H1 169 (-141)
• Berkshire Hathaway Primary Q1 48 (29) H1 81 (33)
• Pretax gain Q1 716 (98) H1 1,061 (411)
• Net gain Q1 462 (66) H1 688 (268)