As at 31 March 2023, Berkshire Hathaway [4]'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.