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Berkshire Hathaway third quarter earnings triple

Warren Buffett's investment vehicle has said that third quarter earnings have tripled

Reinsurance | 09 Nov 2009 | 11:44

warren-buffett

Berkshire Hathway, Warren Buffett's investment vehicle, said that third quarter earnings trebled over the course of the three month period.

Net earnings for the three months to end-September rose to $3.2bn from $1bn this time last year.

This was helped in a surge of derivative gains, which added over $1bn to the earnings - up from an $819m loss this time last year.

Berkshire's insurance business saw operating earnings rise to $363m from $81m, while investment income of its insurance subsidiaries rose to $976m from $809m.

This more than helped overcome a slide in Berkshire's non-insurance businesses, which saw operating earnings fall significantly.

 

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