Warren Buffett’s Berkshire Hathaway Inc. reported a sharp rebound in operating earnings in the third quarter of 2025, with its legendary cash pile climbing to an all-time high of $381.7 billion, even as the conglomerate once again held off on share buybacks.

Operating earnings rose 34% year-on-year to $13.5 billion, driven primarily by a surge in insurance underwriting income amid an unusually quiet disaster season. According to company filings released Saturday, Berkshire’s insurance and reinsurance units both returned to profitability, marking a stark reversal from the losses recorded a year earlier. Advertisement

The group’s insurance underwriting profit skyrocketed over 200% to $2.37 billion, reflecting strong results across primary and reinsurance segments. However, auto insurer G

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