Insurance underwriting to boost Berkshire Q1 results
Improved insurance underwriting and lower tax rate are expected to boost Berkshire Hathaway’s operating income in the first quarter of 2018, according to Morgan Stanley analysts.
The investment bank expects operating earnings to increase by around 40 percent year on year to $4.96 billion in the first three months of 2018.
The key drivers are improved insurance underwriting results to a $434 million pre-tax gain from $379 million pre-tax losses a year ago, and a lower tax rate of 20 percent vs. 27 percent in the first quarter of 2017.
Nevertheless, accounting changes could push Berkshire to a net loss in the first quarter of 2018.
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