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Berkshire Hathaway profit falls on lower insurance income, writedown - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Berkshire Hathaway profit falls on lower insurance income, writedown Greg Able, CEO of Berkshire Hathaway Financial Results , P/C Insurers Berkshire Hathaway Feb 28, 2026 (Reuters) – Berkshire Hathaway on Saturday said 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. Mr. Buffett remains chairman. Berkshire also reported ending 2025 with $373.3 billion of cash, giving Mr. Abel the firepower to make the kind of major acquisitions that eluded Mr. Buffett over the past decade. It was also the thirteenth consecutive quarter in which Berkshire sold more stocks than it bought, and the sixth with no share buybacks. Quarterly operating profit fell 30% to $10.2 billion from $14.53 billion a year earlier. 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% to $44.49 billion, while net income fell 25% to $66.97 billion. Mr. Buffett had long urged investors to ignore fluctuations in Berkshire’s net income, which reflect accounting rules that require Berkshire to report gains and losses on stocks that Berkshire isn’t selling. In his first annual letter to Berkshire shareholders, Mr. Abel paid tribute to his mentor, calling Mr. Buffett a “remarkable CEO” and “arguably the greatest investor of all time” and pledging to maintain his discipline in determining how to invest Berkshire’s capital. “We are committed to strengthening the great legacy built by Warren Buffett and his business partner Charlie Munger, ensuring it endures through our commitment to excellence,” Mr. Abel wrote, referring to Berkshire’s late vice chairman. “I recognize how you want us to succeed together, and to do so in the right way.” Berkshire’s $4.5 billion writedown for Occidental reflected its belief that the recent decline in the oil company’s stock price was not “temporary,” though it said it had no intention to sell any of its stock. The writedown was Berkshire’s second in 2025, in addition to a writedown of its investment in Kraft Heinz. Quarterly insurance profit fell 38% to $4.63 billion. 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. 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