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Buffett- insurance firms rebounding

Sunday, May 5, 2002

OMAHA, Neb. -- Billionaire investor Warren Buffett assured stockholders Saturday that Berkshire Hathaway's insurance operations are back on track after losses blamed on the terrorist attacks.

More than 10,000 shareholders attended Berkshire's annual meeting.

The investor said insurance premiums held by Berkshire before payouts grew by $1.8 billion in the quarter ended March 31, and the company had an underwriting profit of $20 million during the period.

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