Berkshire Hathaway expects Milton loss of $1.3bn-$1.5bn after Q3 UW profits drop 69%

Published: Mon 4 Nov 2024

Pre-tax underwriting profits at Geico almost doubled to $2.03bn in Q3, but overall net underwriting profits generated by Berkshire Hathaway’s (re)insurance operations dropped 69 percent to $750mn as it reported underwriting losses at its primary and reinsurance groups.