New Delhi, Feb. 22 -- Berkshire Hathaway Inc.'s operating earnings surged 71% in the fourth quarter, as higher interest rates lifted the conglomerate's investment income and its insurance business improved.

Operating earnings were $14.5 billion in the three months through December, Warren Buffett's Omaha, Nebraska-based conglomerate said Saturday in a statement. The increase was driven in part by a 48% jump in insurance investment income, to $4.1 billion, amid higher interest rates.

Operating profit rose 27% to $47.44 billion in 2024 from $37.35 billion a year earlier.

Fourth-quarter operating profit also set a record, rising 71% to $14.53 billion, or about $1,010 per Class A share, from $8.48 billion a year earlier, reflecting gains i...