Berkshire Hathaway reported a 62 percent spike in second-quarter net income as reinsurance premiums made up for other lines that did not perform as well.
The Omaha-based holding company headed by Warren Buffet earned $2.35 billion in the second quarter, compared with $1.45 billion in the same period last year.
While Geico, Berkshire's auto insurer holding, reported earned premiums rising to $2.7 billion from $2.5 billion in the comparable year-ago period, its underwriting profit dipped significantly to $288 million from $358 million in the same 2005 period.
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