> wait, insurance companies don't usually make an actual profit directly from premiums? Well, it depends how you measure it. In a basic model an insurance com

> wait, insurance companies don't usually make an actual profit directly from premiums? Well, it depends how you measure it. In a basic model an insurance company's profit is: Profit = Premiums + Investment Returns - Claims - Expenses Talking about "profit from premiums" doesn't really make sense, that concept isn't defined. So you can't really say that "insurance companies don't usually make profit directly from premiums". Fiatmoney is simply claiming that Bekshire's insurance operations have Premiums > Claims + Expenses.