12th August 2020

Berkshire Hathaway boosts insurance underwriting earnings
Trend

Berkshire Hathaway has reported second quater and half year results.
Insurance underwriting earnings were $806m($353m) for the second quarter and $1,169m($742m) for the half year.
Insurance investment income was $1,368m($1,366m) for the second quarter and $2,754m($2,603m) for the half year.
On 9th April,2020, GEICO initiated a $2.5bn “give-back” to policyholders with respect to policies renewed and newly issued policies during the six month period beginning on 8th April 2020. For accounting purposes, the “give-back” will be spread over the twelve month period beginning on 8th April. The effect was to increase GEICO’s underwriting profits during the second quarter that will lead to less favourable results– even perhaps underwriting losses–in the third and fourth quarters.

Berkshire Hathaway Trends(230 articles)