Berkshire Hathaway Inc., the parent company of Berkshire Hathaway Specialty Insurance (BHSI), has posted a US$49.75 billion (around SG$70.5 billion) net loss attributable to Berkshire shareholders in the first quarter of 2020.
In the same period last year, the multinational conglomerate enjoyed net earnings of US$21.66 billion (around SG$30.7 billion). The negative result this time around, which was announced over the weekend, included investment losses amounting to US$54.52 billion (around SG$77.3 billion).
Berkshire Hathaway chief executive Warren Buffett, however, doesn’t seem too worried moving forward, particularly when it comes to the group’s insurance business.
During the company’s May 02 shareholder