Berkshire Hathaway's insurance operations recorded a net loss of 90 million USD as at 31 December 2022, against a net profit of 728 million USD in 2021.
The result was impacted by natural catastrophe claims which totaled 2.4 billion USD in 2022 and by the difficulties encountered by the motor insurance subsidiary GEICO.
The Berkshire Hathaway [4] Reinsurance Group has ended the year 2022 with a net profit of 1.389 billion USD against a loss of 930 million USD a year earlier.
The net loss of the whole conglomerate, including all its sectors, amounted to 22.82 billion USD.
The American holding company is present on the insurance and reinsurance market through several national and foreign non-life, life and health subsidiaries. The latter have employed about 50 000 people by the end of 2022.