Berkshire Hathaway Inc.’s third-quarter profit rose as investments rallied, though a loss for the company’s insurance underwriting pinched its operating profit. Berkshire reported third-quarter net earnings of $30.1 billion, or $18,994 per Class A share equivalent, up from $16.5 billion, or $10,119 per Class A share equivalent, in the year-earlier period. Operating earnings, which exclude… Continue reading Berkshire Hathaway’s Profit Rises, Boosted by Investment Returns
Tag: underwriting loss
Munich Re’s Q3 Profit Falls as Man-Made Losses Exceed €1B
Reinsurer Munich Re has announced a decline in profit to €199 million for the third-quarter of 2020 as its major loss experience swelled to €1.5 billion and its property and casualty (P&C) business fell to an underwriting loss. Munich Re’s profit in Q3 fell from the €865 million posted for the same period in 2019,… Continue reading Munich Re’s Q3 Profit Falls as Man-Made Losses Exceed €1B