NU Online News Service, May 7, 10:42 a.m. EDT

Warren Buffett's Berkshire Hathaway more than doubled first-quarter net income as its insurance businesses turned in a net-underwriting profit of $54 million compared to a loss of $821 million a year ago.

Overall first-quarter net income was $3.25 billion compared to $1.51 billion during the same period in 2011.

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