24 April 2018Insurance

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.

Join us at Intelligent Automation in Insurance - April 26th 2018, London:  Book now.

More of today's news

Catalina acquires Arch Re US P&C book

Maritime risk startup adds former BP CEO to board

Insurtech firm partners with digital insurer

Almost 50% of manufacturers victim of cyber attack

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
8 May 2018   Warren Buffett said he doesn’t want Berkshire Hathaway being a leader on cyber insurance because neither he nor others in the industry really know the risk, according to a May 5 Bloomberg News report.
Insurance
10 April 2018   European reinsurers are shunning retroactive reinsurance while seeking growth opportunities, leaving Berkshire Hathaway unencumbered by competition, according to research by Jefferies.
Insurance
26 February 2018   Warren Buffett’s Berkshire Hathaway, which owns substantial insurance and reinsurance operations, posted record quarterly and annual results for 2017 – mainly fuelled by the big cuts to US corporate income tax, signed in by President Donald Trump last year.