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You are here: Home / News / Berkshire Hathaway Reports GEICO Underwriting Loss in Third Quarter of 2021

Berkshire Hathaway Reports GEICO Underwriting Loss in Third Quarter of 2021

November 8, 2021 By CollisionWeek Editor

While premiums written grew, claims frequencies and severity up across all coverage types in first nine months as driving levels returned to near pre-pandemic levels.

Berkshire Hathaway reported its third quarter and nine-month earnings on November 6, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, GEICO reported a pre-tax underwriting loss of $289 million the third quarter, however, GEICO had pre-tax underwriting earnings of $276 million for the nine-month period. Pre-tax underwriting earnings in 2021 and 2020 were significantly affected by changes in average claims frequencies.

GEICO Underwriting Results Q3 2021

In the first quarter

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Filed Under: News Tagged With: Berkshire Hathaway, Earnings, GEICO

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