Buffett Records Historic Profit from Insurance Investments

Berkshire Hathaway, owned by Warren Buffett, has recorded its third consecutive year of record-breaking annual operating profit, Reuters reports.

In 2024, operating profit increased by 27% to $47.44 billion, compared to $37.35 billion in 2023.

This growth was largely driven by significant increases in underwriting and investment revenues in the insurance sector.

Additionally, fourth-quarter operating profit also reached a new high, surging 71% to $14.53 billion, up from $8.48 billion a year earlier. The rise was attributed to profits from insurance operations and foreign exchange fluctuations.

Quarterly net income stood at $19.69 billion, or $13,695 per Class A share, fueled by the rising value of Apple, American Express, and other investments. For the full year, net income reached $89 billion. Follow “Zamin” news on “Telegram”