Berkshire Hathaway announces Q1 2012 insurance unit profit doubling

The company made this announcement in preparation for the annual meeting with Chairman Warren Buffet. Berkshire Hathaway Inc. has announced its first quarter profit as having doubled following derivative bets and insurance units that performed significantly better than anticipated. The company’s net income rose to $3.25 billion, which means $1,966 per share. In 2011 at the same time, it reported an income of $1.51 billion, which was $917 per share. The lower numbers last year were blamed on the losses from the claims made following the Japan earthquake and Tsunami.…

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