Berkshire Hathaway outlines results in Q2, first half
Berkshire Hathaway outlines results in Q2, first half | Insurance Business Asia
Insurance News
Berkshire Hathaway outlines results in Q2, first half
Insurance underwriting numbers climb
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
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.”
What do you think about this story? Share your thoughts in the comments below.
Related Stories
Keep up with the latest news and events
Join our mailing list, it’s free!
