Second-quarter profit at Warren Buffett's Berkshire Hathaway Inc. fell about 9 percent on derivative losses, while limited catastrophe losses restored positive underwriting results in the conglomerate's insurance operations.
Focusing on insurance underwriting, Berkshire's group of insurers posted second-quarter and six-month pre-tax underwriting income of $619 million and $673 million, respectively, compared to underwriting losses of $7 million and $828 million during the same periods in 2011.
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