NU Online News Service, Feb. 27, 10:23 a.m. EST
Berkshire Hathaway's insurance group reported a 30.5 percent drop in pre-tax earnings in 2011, driven mainly by $2.6 billion in pre-tax losses from catastrophe events.
Year-end earnings at the insurance group—which consists of GEICO, General Reinsurance, Berkshire Hathaway Reinsurance Group and Berkshire Hathaway Primary Group—were $4.97 billion compared to $7.16 billion in 2010.
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