Berkshire Hathaway’s operating earnings surged 71 per cent in the fourth quarter, as higher interest rates lifted the conglomerate’s investment income and its insurance business improved.
Operating earnings were $US14.5 billion ($23 billion) in the three months through December, Warren Buffett’s conglomerate said on Saturday in a statement. The increase was driven in part by a 48 per cent jump in insurance investment income, to $US4.1 billion, amid higher interest rates.
