Insurance operations shine despite ‘sub-par’ 2012 for Berkshire Hathaway
Despite Sandy losses of $1.1bn before tax, Berkshire Hathaway's insurance operations "shot the lights out" in 2012 with a pre-tax underwriting gain of $1.6bn, according to Warren Buffett.
Buffett, chairman at the giant investment conglomerate, said that with the insurance business also providing $73bn of "free" money to invest, "this is truly having your cake and eating it too".
However, he said the company as a whole had turned in a "subpar" performance in 2012, as a book value per...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
