Berkshire Hathaway outlines earnings in Q2, first half

Berkshire Hathaway outlines results in Q2, first half

Berkshire Hathaway outlines earnings in Q2, first half | Insurance Business New Zealand

Insurance News

Berkshire Hathaway outlines earnings in Q2, first half

Insurance underwriting numbers increase

Insurance News

By
Terry Gangcuangco

Here’s the rundown of Berkshire’s operating results in the periods:




Metric / source



Q2 2024



Q2 2023



H1 2024



H1 2023







Net earnings attributable to Berkshire shareholders



US$30.35 billion



US$35.91 billion



US$43.05 billion



US$71.42 billion





Insurance – underwriting



US$2.26 billion



US$1.25 billion



US$4.86 billion



US$2.16 billion





Insurance – investment income



US$3.32 billion



US$2.37 billion



US$5.92 billion



US$4.34 billion





BNSF



US$1.23 billion



US$1.26 billion



US$2.37 billion



US$2.51 billion





Berkshire Hathaway Energy Company



US$655 million



US$785 million



US$1.37 billion



US$1.20 billion





Other businesses



US$3.38 billion



US$3.50 billion



US$6.47 billion



US$6.57 billion





Operating earnings



US$11.60 billion

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US$10.04 billion



US$22.82 billion



US$18.11 billion




 

Lifting the lid on the insurance results, Berkshire reported: “Insurance underwriting after-tax earnings increased US$1.0 billion in the second quarter and US$2.7 billion in the first six months of 2024 compared to 2023.

Broken down, GEICO contributed US$1.79 billion in pre-tax underwriting earnings in the second quarter, while US$279 million and US$782 million, respectively came from Berkshire Hathaway Primary Group and Berkshire Hathaway Reinsurance Group.

In the same period last year, GEICO’s pre-tax underwriting earnings stood at US$514 million. Berkshire Hathaway Primary Group’s pre-tax underwriting earnings also improved, from US$272 million previously.

Meanwhile, the group added: “After-tax earnings from insurance investment income increased US$951 million in the second quarter and US$1.6 billion in the first six months of 2024 compared to 2023, driven by higher interest income from our short-term investments in US Treasury Bills.”

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