The 92-year-old "Oracle of Omaha," along with his right-hand man, the 99-year-old Charlie Munger, fielded nearly 50 questions from shareholders. This year's annual shareholders meeting drew a full house of adoring attendees in Omaha, with international travelers rising about 20% from last year. Telematics programs allow insurers to collect clients' driving data, including their mileage and speed, to help price policies. Geico has reached a point where about 90% of new businesses has a telematic input on pricing decisions, Jain said. The auto insurer suffered a $1.9 billion pretax underwriting loss last year as it sacrificed market share to competitor Progressive.Ījit Jain, Berkshire's vice chairman of insurance operations, said Saturday that auto insurer Geico is "taking the bull by the horns" to improve the use of telematics. Geico, the crown jewel of Berkshire's insurance empire and Buffett's " favorite child," saw a big turnaround in the quarter, returning to an underwriting profit of $703 million. "We continue to believe BRK's shares are an attractive play in an uncertain macro environment," said Brian Meredith, Berkshire analyst at UBS, who also raised full-year earnings estimates following the Q1 report.īerkshire also repurchased $4.4 billion worth of stock - the most since the first quarter of 2021 - up from $2.8 billion at the end of last year. Earnings also rose sharply thanks in part to gains in its equity portfolio, led by Apple. The strong performance was driven by a rebound in Berkshire's insurance business, especially auto insurer Geico. ![]() ![]() Personal Loans for 670 Credit Score or Lowerįor the first quarter, the Omaha, Nebraska-based conglomerate reported a 12.6% jump in operating earnings, which encompass profits made from an array of businesses, ranging from insurance to railroads, and utilities to Dairy Queen. Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit
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