Berkshire Hathaway: Q1 2023 insurance and reinsurance results

As at 31 March 2023, Berkshire Hathaway's net profit, all activities combined, reached 35.504 billion USD compared to 5.58 billion USD in the same period of 2022.

The US group's insurance and reinsurance operations have posted a strong 445% increase in the net result to 911 million USD. The 1.969 billion USD net investment income has grown by 68%, mainly owing to the rise in long-term interest rates.

Berkshire Hathaway Primary Group, an entity dedicated to direct insurance activities, has achieved a turnover of 4.158 billion USD.

During the period under consideration, Berkshire Hathaway Reinsurance Group has collected 7.329 billion USD in premiums. Non-life premiums totaled 6.268 billion USD against 1.061 billion USD for the life class of business.

The P&C reinsurance turnover included 1.3 billion USD coming from TransRe Group, which is now owned by the American conglomerate following the acquisition of its parent company Alleghany in October 2022.