What is Berkshire Hathaway Net Reserve Development From Prior Years (USD Mil)?
Net Reserve Development From Prior Years (USD Mil) is the difference between the final losses recorded by an insurer and what the insurer originally recorded.
Berkshire Hathaway's Net Reserve Development From Prior Years (USD Mil) for the annual that ended in Dec. 2023 was 3,541.00
, which higher from pervious year (Dec. 2022)'s result by 32.52%.
The historical rank and industry rank for Berkshire Hathaway's Net Reserve Development From Prior Years (USD Mil) or its related term are showing as below:
BRK.B's Net Reserve Development From Prior Years (USD Mil) is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Net Reserve Development From Prior Years (USD Mil) only.
Berkshire Hathaway Net Reserve Development From Prior Years (USD Mil) Historical Data
The historical data trend for Berkshire Hathaway's Net Reserve Development From Prior Years (USD Mil) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* Premium members only.
Berkshire Hathaway Net Reserve Development From Prior Years (USD Mil) Chart
Berkshire Hathaway Annual Data
Trend
Dec19
Dec20
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Dec23
Net Reserve Development From Prior Years (USD Mil)
Competitive Comparison of Berkshire Hathaway's Net Reserve Development From Prior Years (USD Mil)
For the Insurance - Diversified subindustry, Berkshire Hathaway's Net Reserve Development From Prior Years (USD Mil), along with its competitors' market caps and Net Reserve Development From Prior Years (USD Mil) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Berkshire Hathaway (NYSE:BRK.B) Net Reserve Development From Prior Years (USD Mil) Explanation
Net Reserve Development From Prior Years (USD Mil) is the difference between the final losses recorded by an insurer and what the insurer originally recorded. Prior years’ loss reserve development is useful to the company's management team, as it allows them to assess the impact of incurred claims from previous calendar years on current period earnings.
Generally, lower Prior Years’ Reserve Development is better because it means a higher accuracy on predicting the loss on incurred claims.
Berkshire Hathaway Net Reserve Development From Prior Years (USD Mil) Related Terms
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Berkshire Hathaway (Berkshire Hathaway) Business Description
Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from these and its other operations over the years to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the firms that make up its manufacturing, service, and retailing operations (which include five of Berkshire's largest noninsurance pretax earnings generators: Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis.
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