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...Geico and National Indemnity or the BNSF railroad....
...Buffett’s sprawling conglomerate, which owns the BNSF railroad and Geico insurer, first invested in the iPhone maker in 2016 at the direction of one of his two investment deputies: Todd Combs and Ted Weschler...
...The acquisition by Berkshire, whose related interests include car insurer Geico and dealership Berkshire Hathaway Automotive, was regarded as a vote of confidence in the US economy and more particularly...
...The company’s operating businesses, which span the BNSF railroad, Geico insurer and aircraft parts maker Precision Castparts, reported a 41 per cent rise in profits to $10.8bn....
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...But investors said they would be closely scrutinising Buffett’s annual letter next February for any indications that change is afoot at the conglomerate, which counts insurer Geico and the BNSF railroad...
...The sprawling conglomerate — which owns the BNSF railroad and Geico insurer — increased the holdings by nearly $17bn in the second quarter, to sit just below an all-time high of $149bn set in 2021....
...The sprawling conglomerate is now worth more than $780bn, with stakes in Apple, Coca-Cola and Bank of America as well as ownership of the BNSF railroad and Geico insurer....
...Investors were buoyed by the fact that Geico, the company’s auto insurance unit, posted a second consecutive quarterly profit after more than a year of losses....
...“As a result, we currently expect Geico to generate an underwriting profit in 2023,” Berkshire said....
...But this year, Abel — heir apparent to lead the $710bn conglomerate that includes the BNSF railroad, private jet operator NetJets and insurer Geico, as well as the other public and private groups Berkshire...
...One of Berkshire’s crown jewels, the Geico auto insurer, swung to an underwriting profit after six consecutive quarters of losses....
...But this year the heir apparent to the $710bn business that includes the BNSF railroad, private jet operator NetJets and insurer Geico, as well as the other public and private groups Berkshire has invested...
...It is also the latest shift by the conglomerate, which spans the Geico insurer, BNSF railroad and Dairy Queen ice cream purveyor, into blue-chip technology companies....
...In the past six years ISS has recommended a withhold vote only once — in 2019 for Scott, again due to executive pay concerns....
...Berkshire’s insurance unit suffered an operating loss of $962mn during the quarter, with Geico warning that higher used auto parts prices and an increase in accidents were weighing on its results....
...The Geico unit reported an underwriting loss in the period, blaming an uptick in insurance claims and higher payment costs on those benefits....
...Insurance unit Geico recorded a $487mn pre-tax underwriting loss in the quarter, up from the three months before....
...In his most recent letter to shareholders, Buffett again extolled the virtues of insurance “float” or the premiums that policyholders pay to Berkshire insurance companies such as Geico....
...Instead, Buffett directed Berkshire to pump much of the cash that the company’s various businesses — which span insurer Geico, BNSF Railway and the Dairy Queen ice cream chain — were generating in 2020 and...
...It works with dozens of insurers worldwide including the UK’s Aviva, Geico in the US and Japan’s Tokio Marine....
...Among the insurance companies in Berkshire’s portfolio are Geico, one of the largest car insurers in the US, and reinsurer Gen Re, which provides cover to primary insurers across life, health, property and...
...One of Buffett’s most storied investments is US motor insurer Geico. Having fallen in love with the business back in the 1950s, Berkshire Hathaway eventually got around to taking it private in 1996....
...That has played directly to Berkshire, which has an empire ranging from the BNSF railroad, to insurer Geico and metalworking subsidiary Iscar, as well as a $351bn stock portfolio, with multibillion-dollar...
...Berkshire’s many operating companies, which include ice cream purveyor Dairy Queen, the Geico insurer, and private jets operator NetJets, nonetheless had a banner year....
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