Frequency was down for first half. Policies in force down 14.4% as company reduces advertising and focuses on profitability.
Berkshire Hathaway reported its second quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on August 5.
GEICO’s pre-tax underwriting earnings in the first six months of 2023 reflected higher average premiums per auto policy, a reduction in advertising costs, as well as reductions in prior accident years’ claims estimates.
Premiums written and earned were substantially unchanged in the second quarter and first six months of 2023 compared to 2022.
Premiums in
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