Berkshire Hathaway: exceptional 2023 performance thanks to insurance and reinsurance activities

After recording a net loss of 22.759 billion USD in 2022, Berkshire Hathaway was back in profit by 31 December 2023. The Group's net result for all activities combined reached 96.223 billion USD at that date.

This growth was partly due to the improved performance of the conglomerate's insurance and reinsurance operations. The group ended the year with a net underwriting profit of 5.428 billion USD, against a net loss of 30 million USD at the end of 2022. In addition, the reinsurance business generated a financial income amounting to 9.567 billion USD.

GEICO, the motor insurance subsidiary, posted a turnover of 39.837 billion USD and a pre-tax profit of 3.635 billion USD.

During the reporting period, Berkshire Hathaway Reinsurance Group recorded earned premiums totalling 27.01 billion USD and a pre-tax profit of 1.904 billion USD.

Warren Buffet's holding company is present in the insurance and reinsurance market through its non-life, life and health subsidiaries.

These entities have employed nearly 43 000 people by the end of 2023.