(Reuters) - Omaha, Nebraska-based Berkshire typically generates more than half of earnings from insurance-related operations.
The company suffered some $3 billion of losses in 2005 from Gulf Coast hurricanes, including Katrina. It benefited in 2006 from a lack of major storms, and as rivals pulled back from offering some policies. This allowed Berkshire to command higher prices because of a lack of competition.
Read more at Reuters.com Business News
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