Berkshire Hathaway’s Third-Quarter Operating Profit Falls 29%
Berkshire Hathaway's (NYSE: BRK-A)(NYSE: BRK-B) third-quarter operating earnings declined to $3.44 billion, down from $4.85 billion in the year-ago period, due primarily to large insurance underwriting losses from natural disasters. Third-quarter weather events were particularly troublesome for Berkshire Hathaway Reinsurance, which posted a massive $1.3 billion pre-tax underwriting loss in the third quarter.
Here's a look into Berkshire's third-quarter results, segment by segment.
Hurricanes Harvey, Irma, Maria and an earthquake in Mexico exacted a high price from Berkshire Hathaway's insurers. In all, the company reported that these four weather events generated $3 billion of losses across its insurance companies.
Source: Fool.com
