OMAHA, Neb.—Berkshire Hathaway Inc.’s insurance underwriting operating earnings for the first nine months of 2010 increased 44.5%, rising to $887 million, the company said Friday.
However, its third-quarter insurance operating earnings declined 42.5% to $199 million, the company said.
Within the insurance underwriting group, General Re Corp. reported a 13.9% decline underwriting loss, falling to $384 million for the nine-month period. For the quarter, Gen Re posted an 8.1% increase to $201 million.
The Berkshire Hathaway Reinsurance Group reported a $68 million loss for the nine-month period vs. zero results for the comparable 2009 data provided, with gains balancing out losses in individual segments. It reported a $237 million loss for the quarter vs. a $141 million gain for the comparable period a year ago.
The Berkshire Hathaway Primary Group reported a $133 million underwriting gain for the nine-month period, a 232.5% increase. It reported a $52 million underwriting gain for the third quarter vs. $7 million for the comparable year-earlier period.
Insurance investment operating earnings for the nine-month period, decreased 10.2%, to $2.95 billion. For the third quarter, it decreased 14.3% to $873 million.
For the nine-month period, operating earnings for Berkshire Hathaway overall increased 45.9% to $8.08 billion. Overall operating earnings for the quarter totaled $2.79 billion, a 35.6% increase.