Turnaround for reinsurer complete. General Re hit by cats

Berkshire Hathaway said Q1 net underwriting earnings rose from $66m last year to $462m and H1 earnings rose from $268m last year to $688m.

All four insurance businesses made profits after Berkshire Hathaway Re made losses last year, but General Re saw profits falls on the back of catastrophe costs.

Premiums earned $m

  • Geico Q1 3,554 (3,394) H1 7,008 (6655)
  • General Re Q1 1,373 (1,426) H1 2,813 (2,805)
  • Berkshire Hathaway Reinsurance Q1 1,546 (1,210) H1 3,653 (4,297)
  • Berkshire Hathaway Primary Q1 391 (455) H1 816 (911)
  • Investment Q1 1,500 (1497) H1 2,802 (2,863)
  • Total insurance Q1 8,364 (7982) H1 17,092 (17,531)

Pre-tax earnings $m

  • Geico Q1 329 (111) H1 628 (259)
  • General Re Q1 222 (276) H1 183 (260)
  • Berkshire Hathaway Reinsurance Q1 117 (-318) H1 169 (-141)
  • Berkshire Hathaway Primary Q1 48 (29) H1 81 (33)
  • Net investment Q1 1,494 (1,482) H1 2,777 (2,836)
  • Total Insurance Q1 2,210 (1,580) H1 3,838 (3,247)

Underwriting gain/loss

  • Geico Q1 329 (111) H1 628 (259)
  • General Re Q1 222 (276) H1 169 (141)
  • Berkshire Hathaway Q1 117 (-318) H1 169 (-141)
  • Berkshire Hathaway Primary Q1 48 (29) H1 81 (33)
  • Pretax gain Q1 716 (98) H1 1,061 (411)
  • Net gain Q1 462 (66) H1 688 (268)

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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