Berkshire Hathaway in trouble

Hurricanes Harvey, Irma, Maria and the Mexico earthquakes have caused Berkshire Hathaway losses of 1.4 billion USD in the third quarter of 2017. The results of the previous two quarters were also deteriorating.

The US insurer recorded a cumulative loss of 1.7 billion USD during the first nine months of the current year. This is the first time in 15 years that the insurance business of the group reports no profits.

Over the past 14 years, Berkshire Hathaway generated cumulative earnings of more than 18 billion USD.