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Berkshire Insurance Profit Climbs as Firm Escapes 2017 Slump

  • Gains at Geico and a reinsurance unit helped boost results
  • Cash pile at Warren Buffett’s company climbs to $111 billion
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This year’s looking brighter for Berkshire Hathaway Inc.’s insurance businesses after 2017’s hurricanes led to the first annual underwriting loss in more than a decade.

Auto insurer Geico and the company’s namesake reinsurance business helped lift underwriting to a profit in the second quarter, adding to earnings during the first three months of the year, the Omaha, Nebraska-based company said Saturday in a statement. Last year’s annual underwriting loss broke a streak of profits more than a decade long.