Berkshire Reports Big Jump in Earnings

May 07, 2023

Powering Berkshire’s jump in earnings was $31.1 billion in unrealized gains on the investments the company makes using the flood of cash it collects from its insurance operations. Its insurance operations reported $911 million in net underwriting earnings, bolstered in particular by its Geico division, which benefited from higher policy premiums and fewer claims. Long known as the “Woodstock for capitalists,” the hourslong event features Mr. Buffett and his longtime lieutenant, Charlie Munger, answering questions on a wide swath of topics. Given the ages of Berkshire’s leaders — Mr. Buffett turns 93 this summer and Mr. Munger is 99 — it’s unclear how many more meetings the two will chair. The post Berkshire Reports Big Jump in Earnings appeared first on New York Times.