New Delhi, Feb. 22 -- Warren Buffett's Berkshire Hathaway Inc announced its fourth quarter results on Saturday, February 22, reporting a surge of 71 per cent in its operating profit to $14.5 billion, mostly driven by the investment income and insurance business amid high interest rates.

The multinational conglomerate reported its third straight record annual operating profit, bolstered by large increases in underwriting earnings. The Omaha, Nebraska-based empire's fourth-quarter operating profit hit a record $14.53 billion, or $1,010 per Class A share, from $8.48 billion a year earlier, reflecting gains in its insurance operations and foreign currency changes.

The increase in operating earnings was driven by a 48 per cent jump in insura...