Berkshire Hathaway profit falls on lower insurance income, Occidental writedown

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices surge after U.S.-Israel strikes on Iran; crude around $80/bbl likely Futures drop, oil spikes amid widening Mideast conflict - what’s moving markets Oil could spike to $80/bbl this week on Middle East escalation, analysts warn Asia stocks slide as US-Iran strikes batter risk appetite FLASH SALE (South Africa Philippines Nigeria) FLASH SALE Berkshire Hathaway profit falls on lower insurance income, Occidental writedown By Reuters Stock Markets Published 03/02/2026, 05:25 AM Updated 03/02/2026, 05:31 AM Berkshire Hathaway profit falls on lower insurance income, Occidental writedown 0 US500 -0.43% KHC 0.16% OXY 3.21% BRKb 0.45% By Jonathan Stempel Feb 28 - Berkshire Hathaway said on Saturday operating profit fell in the fourth quarter, reflecting lower income from its insurance operations, and wrote down a longstanding investment in Occidental Petroleum . The quarter was Warren Buffett’s last as the conglomerate’s chief executive, a job now held by Greg Abel. Buffett remains chairman. Berkshire reported ending 2025 with $373.3 billion of cash, giving Abel the firepower to make the kind of major acquisitions that eluded Buffett over the last decade. The quarter was also the 13th in a row in which Berkshire sold more stocks than it bought, and the sixth straight with no share buybacks. Quarterly operating profit fell 30% to $10.2 billion, or about $7,092 per Class A share, from $14.53 billion a year earlier. Much of this came from a 38% drop in quarterly insurance profit. Falling interest rates reduced income on Berkshire’s cash, while pricing pressures limited the willingness of the Geico auto insurer and reinsurance businesses to add customers. ABEL PAYS TRIBUTE TO BUFFETT Net income fell 3% to $19.2 billion from $19.69 billion, as the writedown and lower operating profit offset the value of Berkshire’s holdings in Apple, American Express and other stocks. For the full year, operating profit fell 6% t...