Berkshire reinsurance Q3 underwriting result plummets on Nico settlement
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Berkshire reinsurance Q3 underwriting result plummets on Nico settlement

The conglomerate expects pre-tax losses from Hurricane Milton of between $1.3bn-$1.5bn in Q4.

By Jairo Ibarra
November 02, 2024
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Berkshire Hathaway’s P&C reinsurance unit posted Q3 underwriting earnings that plummeted to $161mn from nearly $1.5bn in the prior-year period on a National Indemnity (Nico)-related settlement and amid Hurricane Helene losses.

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