Berkshire Hathaway's insurance business reported record profits

Warren Buffett's Berkshire Hathaway has reported a record annual operating profit for the third consecutive year, according to Reuters.

In 2024, operating profit increased by 27% to reach $47.44 billion. In 2023, this figure was $37.35 billion.

This result was driven by a significant increase in income from underwriting and investments in the insurance business.

Additionally, fourth-quarter results also reached record levels – operating profit rose by 71% to $14.53 billion. In the same period of 2023, this figure was $8.48 billion. This growth was influenced by insurance operations and changes in exchange rates.

The company's net quarterly income was $19.69 billion, amounting to $13,695 per Class A share. The increase in the value of assets in Apple, American Express, and other companies contributed to this. By the end of the year, net profit was $89 billion.