Q4 underwriting profits nearly double for Berkshire Hathaway
Publish Date:Posted over 7 years ago
Berkshire Hathaway posted a near doubling in its underwriting income with takings increasing from $306mn to $548mn. A slightly weaker insurance investment performance meant returns went down 13.9% on the prior year period to $889mn. The company’s annual report stated that Berkshire Hathaway Specialty Insurance grew its volume by 40% to $1.3bn for the whole of 2016. Compared to 2015, Berkshire Hathaway posted a higher underwriting profit in two of its three main insurance operations. The Berkshire Hathaway Reinsurance Group (BHRG) recorded underwriting profits of $822mn in Q4, nearly twice that recorded in the same period in 2015. BHRG’s property casualty top line shrank by 5.7% to $4.4bn with profits declining 18.8%.
