Berkshire Hathaway, first nine months 2008

Cat losses and the investment downturn have affected Berkshire Hathaway’s insurance and reinsurance operations, although the damage caused is relatively light, given the group’s financial muscle. The specialist Berkshire Hathaway Reinsurance Group (BHRG) account underwritten by Ajit Jain recorded a $166m loss for the third quarter and a $58m loss at the nine-month stage.