Berkshire Hathaway’s insurance underwriting arm has reported a third-quarter $US1.44 billion ($1.88 billion) net operating loss, after sustaining $US835 million ($1.09 billion) of losses from hurricanes in the US and Caribbean, plus earthquakes in Mexico.

The division made a $US272 million ($355.78 million) profit in the corresponding period last year.

For the nine months to September 30, it made a $US1.73 billion ($2.26 billion) loss, compared with an $US822 million ($1.08 billion) profit in the corresponding period last year.

Berkshire says it lost about $US50 million ($65.41 million) from Tropical Cyclone Debbie, which struck Queensland and NSW in March.

Of the four underwriting businesses, Berkshire Hathaway Primary Group was the only one in the black during the third quarter, with $US52 million ($68.03 million) in operating profit.

Car insurer Geico ran up a $US416 million ($544.21 million) loss, down from $US138 million ($180.52 million) profit, while General Re chalked up a $US504 million ($659.28 million) loss, down from a $US100 million ($130.81 million) profit.

Berkshire Hathaway Reinsurance Group widened its loss to $US1.34 billion ($1.75 billion) from $US19 million ($24.86 million).

“The timing and amount of significant catastrophe losses can produce significant volatility in our periodic underwriting results, particularly with respect to our reinsurance businesses,” the group says.

Berkshire Hathaway made an overall net income of $US4.07 billion ($5.32 billion) in the third quarter, down from $US7.2 billion ($9.42 billion).