DaVita, a significant position within Berkshire Hathaway’s portfolio, reported third-quarter adjusted earnings of $2.75 per share, comfortably above consensus estimates of $2.40, reflecting a year-over-year increase of 14%. Revenue climbed 9.9% to $3.2 billion, driven by same-store growth in its kidney care business and expansion of its value-based care arrangements. The company treated 210,000 dialysis patients in the quarter, up 3% year-over-year, while operating margins expanded by 120 basis points to 18.7% due to improved cost controls and higher utilization rates. Following the results, DaVita’s shares jumped 25%, boosting the overall performance of Berkshire’s equity portfolio and contributing an estimated $1.8 billion in unrealized gains to its book value.

Berkshire Hathaway Specialty Insurance has promoted Chris Polechronis to Head of Financial Institutions in the U.S., effective immediately. Polechronis joined BHSI in 2014 and most recently served as Co-Head of Financial Institutions, overseeing a portfolio that has grown at a compound annual rate of 12% over the past five years. In his expanded role, he will manage underwriting and client relationships for a $750 million annual premium book that includes executive liability, fiduciary liability and crime coverage. BHSI’s financial strength ratings of A++ from AM Best and AA+ from Standard & Poor’s underpin its capacity to write large-limit policies for global banks, asset managers and broker-dealers. Investors view this leadership appointment as a reinforcement of Berkshire’s disciplined underwriting approach and its focus on long-term, profitable growth in specialty insurance.