Berkshire Hathaway's insurance business operates as a cornerstone multi-trillion-dollar engine of the conglomerate, focusing heavily on property and casualty (P&C) insurance and global reinsurance. The group collects billions in "float"—premiums paid upfront before claims are paid out—which is reinvested by management. Major operating units include GEICO for consumer auto insurance, General Re for international reinsurance, and National Indemnity for massive commercial and catastrophe risk underwriting.
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