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.
In the first quarter