While the identity of Buffetts successor has remained a mystery for years, he has said he wants the next leader to be drawn from the companys ranks, relatively young and unmotivated by ego.
Berkshires namesake reinsurance group and General Re unit incurred costs tied to a cyclone in Australia. Pretax profit fell 34 percent at Geico, which sells auto coverage.
Ajit Jain, long considered a top candidate to replace billionaire Warren Buffett as CEO of Berkshire Hathaway Inc., is expanding his oversight of the companys insurance operations.