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Berkshire: Negative Q3 Insurance Results Due to Catastrophe, Auto Losses

November 7, 2022

Berkshire Hathaway’s insurance business recorded an after-tax underwriting loss of $962 million (a pre-tax loss of $1.15 billion) in the third quarter, a decrease of $178 million from 2021, as catastrophe losses and increases in private-passenger auto frequency offset underlying results.

Overall, Warren Buffett’s conglomerate on Saturday posted a $2.69 billion third-quarter loss compared to a net income of over $10 billion during the same time in 2021.

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