Berkshire reports first-half profit rise by 22.6%

OMAHA, Neb.--Berkshire Hathaway Inc. reported $5.71 billion in net income for the first half of 2007, a 22.6% increase.

For the second quarter, the company reported a 32.9% increase to $3.12 billion.

Within its insurance group, Stamford, Conn.-based General Reinsurance Corp. reported $260 million in earnings before taxes and minority interests, a 44.4% increase; Berkshire Hathaway Reinsurance Group reported $909 million in earnings before taxes and minority interests, up 293.5%; and Berkshire Hathaway Primary Group reported $112 million, a 43.6% increase.

Berkshire Hathaway's personal lines insurer, Washington-based GEICO Corp., reported a 3.5% increase to $620 million.