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MKL insurance profitable 7 / 10 years

Berkshire Hathaway insurance companies profitable 10 / 10 years. Of the 4 Berkshire insurance companies, Geico and Berkshire Primary Group are profitable 10/10, General Re 9/10 years and Berkshire Re 8/10 years. Pretty impressive.

Buffett wrote in his AR

In most years the P/C industry as a whole to operate at a significant underwriting loss. This loss, in
effect, is what the industry pays to hold its float. For example, State Farm, by far the country’s largest insurer and a
well-managed company besides, incurred an underwriting loss in eight of the eleven years ending in 2011. (Their
financials for 2012 are not yet available.) There are a lot of ways to lose money in insurance, and the industry never
ceases searching for new ones.

Markel is doing well but not as well as Berkshire.
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