Berkshire Hathaway: 2024 insurance and reinsurance results

Berkshire Hathaway's insurance and reinsurance operations reported underwriting profits of 9.02 billion USD as at 31 December 2024, representing a year-on-year increase of 66%.

Investment income for this activity rose by 43% to 13.67 billion USD.

GEICO, the American conglomerate's motor insurance subsidiary, closed the 2024 financial year with a turnover of 42.916 billion USD and an underwriting result before tax of 7.813 billion USD.

Berkshire Hathaway Primary Group's premium volume amounted to 18.836 billion USD. This second component of the group, which includes several subsidiaries, posted pre-tax underwriting profits of 855 million USD.

Berkshire Hathaway Reinsurance Group, the Group's third reinsurance division, posted an underwriting profit before tax of 2.737 billion USD. Non-life (P&C) premiums stood at 21.899 billion USD, compared with 5.007 billion USD for the life and health (L&H) business.

These results were achieved despite losses worth 1.2 billion USD due to hurricanes Helene and Milton.

Berkshire Hathaway's first-quarter 2025 results will include losses related to the Los Angeles fires estimated at 1.3 billion USD.