Collision claim frequency was down 8-9% in the third quarter compared to last year.
Berkshire Hathaway reported its earnings for the third quarter of 2024 on November 2, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S.
GEICO’s pre-tax underwriting earnings were $5.747 billion in the first nine months of 2024, up $3.477 billion or 153% from $2.27 in the first nine months of the previous year. According to the company, the improvement reflected higher average premiums per auto policy, lower claims frequencies and improved operating efficiencies compared to 2023, partially offset by
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