Berkshire Hathaway, the company run by billionaire investor Warren Buffett, reported its highest ever-quarterly profit on Friday, powered by rising insurance rates.
Berkshire reported a net profit of $1.73 billion (£1 billion) for the first quarter. That compared with $916m (£570m) in the same quarter last year.
The sharp rise in profit was helped by higher insurance rates charged by Berkshire units, partly as a reaction to the destruction of the World Trade Centre in 2001.
