Berkshire Hathaway Post Q1 Profits of $8B Driven by Geico

Berkshire Hathaway saw a 12.6 percent increase in operating earnings in the first quarter, largely driven by a rebound in its insurance business. Insurance underwriting profits jumped from $167 million to $911 million, while investment income rose from $1.170bn to $1.969bn. Geico, the company's auto insurance business, posted an underwriting profit of $703m, compared to a $1.9bn loss last year. However, earnings declined in its railroad and energy businesses. Berkshire Hathaway also repurchased $4.4bn worth of stock in the quarter, the most since Q1 2021.