Subject: Re: Jason Zweig on BRK's Cash
Is it normal for an insurance company to have 322/174 = 1.85x float in fixed income?

Current allocation to T-bills & cash (or Fixed Income if you prefer) is just a side effect of the unattractiveness of current opportunity set; it won't be a permanent state of affairs. Don't forget the broader market is trading quite at the higher end of the its historical valuation range.