Buffett buffetted by hurricane claims

Warren Buffett's Berkshire Hathaway said $4.4 billion in claims from Hurricanes Katrina and Rita triggered the lowest quarterly profit since 2001.

Berkshire, reliant on insurance units such as General Re and Geico for more than half of annual earnings, said third-quarter net profit fell 48 per cent to US$586 million ($857 million).