Berkshire underwriting profits hit by $130mn Tianjin loss

Warren Buffett's Berkshire Hathaway saw underwriting profits in
its (re)insurance operations fall to $414mn in the third quarter
from $629mn for the same period last year.
The results were affected by a $130mn exposure to the port
explosion in the Chinese city of Tianjin.
Reinsurance subsidiary Gen Re shouldered $44mn of the loss with
Berkshire Hathaway Reinsurance Group swallowing the remaining $86mn
hit.
However, this was partly offset by an increase in investment
income from Buffett's famed i