Berkshire Hathaway has recorded a quarterly profit as its insurance operations made gains on rising premiums.
Berkshire reported a net third-quarter profit of $1.14bn (£630m) or $744 (£467) per share. That compared with a loss of $679m (£426m), or $445 (£279) per share, the year before, due to the September 11 attacks.
Berkshire's profit was boosted by improved underwriting results at its cut price car insurer GEICO and its reinsurer National Indemnity.
The company's insurance and reinsurance rates soared this year after a decade of declines.
These price increases were accelerated by a surge in demand for insurance and a tightening of supply after the September 11 attacks.
