Berkshire P&C underwriting profits jump 54% despite $460mn in Uri losses
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Berkshire P&C underwriting profits jump 54% despite $460mn in Uri losses

James Thaler, 
John Hewitt Jones
May 01, 2021
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Berkshire Hathaway logo without bar.jpg

Underwriting profits at Berkshire Hathaway’s P&C division surged by 54% in the first quarter, benefitting from a swing to profitability within its primary insurance unit and its reinsurance business.

The company’s three major P&C units—including auto insurer GEICO—generated $1.15bn in underwriting profits, despite registering $460mn in losses from Winter Storm Uri.

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James Thaler
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