Policies in force up 10 percent, premiums up five percent. Losses, however, increase faster than premiums.
Berkshire Hathaway reported results for the second quarter of 2017 including GEICO, the second largest private passenger auto insurer in the U.S.
GEICO premiums written in the second quarter were $7.27 billion, up $1 billion of 16.7 percent versus the second quarter of 2016. For the first six months of 2017 premiums written were $14.857 billion, an increase of $2.1 billion of 16.1 percent, versus the first half of 2016.
According to the company, over the past year, voluntary auto policies-in-force grew approximately 10.2