⛈Berkshire Hathaway takes $3bn Q3 cat hit .
Berkshire Hathaway included estimated pre-tax losses of $3bn for the trio of Q3 hurricanes and Mexican quake as it reported a pre-tax underwriting loss of $2.21bn in its (re)insurance operations.
The underwriting loss came in at $1.44bn after tax, compared to a $272mn gain in the prior-year period.
The cat losses, equivalent to $1.95bn after tax, contributed to a 29 percent drop in operating earnings at the investment conglomerate to $3.44bn for the third quarter.
Net earnings fell by more…The Insurance Insider
http://m.insuranceinsider.com/berkshire-hathaway-takes-3bn-q3-cat-hit