Insurance Company Profits
Berkshire Hathaway
| year |
sales |
profits |
| 2000 |
24,028 |
1,557 |
| 2001 |
33,976 |
3,328 |
| 2002 |
37,668 |
795 |
| 2003 |
42,353 |
4,286 |
|
AIG
| year |
sales |
profits |
| 2000 |
40,656 |
5,055 |
| 2001 |
45,972 |
5,636 |
| 2002 |
62,402 |
5,499 |
| 2003 |
69,923 |
5,518 |
|
Wall Street Journal
November 15, 2001
|
Moreover, in response to Sept. 11, insurers are already raising prices by
100 percent or more on some lines of commercial and industrial insurance. ...
For much of the 1990s, carriers had engaged in a price war, keeping premiums
relatively low. The prospect of large payouts related to the attacks gave
the industry grounds for demanding substantial increases....
|
In speech to Berkshire Hathaway stockholders,
Buffet warned that a dirty nuclear bomb attack in the U.S. was "inevitable".
|