Collision severity up for first half. Overall premiums written were down 7% in the quarter and 1.1% for first six months.
On August 8, Berkshire Hathaway Inc. reported its second quarter earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company’s quarterly report, GEICO generated pre-tax underwriting earnings of $2.1 billion in the second quarter and $3.0 billion in the first six months as it experience significant declines in losses and loss adjustment expenses due to lower claims frequencies from the decreased driving by policyholders during the COVID-19 pandemic.
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