The Omaha-based conglomerate posted operating earnings of $8.481 billion in the quarter ending December.
Berkshire Hathaway posted operating earnings — which refers to profits from businesses across insurance, railroads and utilities — of $8.481 billion in the fourth quarter.Berkshire held $167.6 billion in cash in the fourth quarter, a record level that surpasses the $157.2 billion the conglomerate held in the prior quarter.on Saturday reported a big rise in operating earnings in the fourth quarter, thanks to huge gains in its insurance business, while its cash pile expanded to record levels.
Berkshire also held $167.6 billion in cash in the fourth quarter, a record level that surpasses the $157.2 billion the conglomerate held in the prior quarter.Geico, the auto insurer considered Buffett's "favorite child," reported a profitable year, with net underwriting earnings of $5.428 billion in 2023. The improved earnings was driven by premium rate increases and lower claims last year.
Insurance investment income also rose to $2.759 billion on a quarterly basis, up 37% from $2.0 billion in the same period in the year prior.
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