NU Online News Service, Aug. 8, 2:49 p.m. EDT

Berkshire Hathaway says it is unlikely that its combined insurance operations will post an underwriting profit this year as the Warren Buffett-led company reports a $7 million second-quarter underwriting loss.

As of June 30 Berkshire Hathaway insurance operations recorded an $828 million underwriting loss, as it was hit by pretax estimated catastrophe losses of about $1.9 billion from earthquakes in Japan and New Zealand as well as events in Australia and the United States.

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