Collision claim frequency was down in range of 4-5% in the quarter, but severity was up 4-6%.
Berkshire Hathaway reported its earnings for the first quarter of 2024 on May 4, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S.
GEICO’s premiums written were $10.796 billion in the first quarter, up $736 million or 7.3% from $10.060 billion in the first quarter of 2023. The improved premiums written result reflects higher average premiums per auto policy, up 9.8%, due to rate increases, partially offset by a 6.6% decrease in policies-in-force over the past
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.