Private passenger auto claim frequencies and severity climbed across all coverages in the first quarter, reversing recent favorable trends.
GEICO’s pre-tax underwriting earnings fell to $1.416 billion in the first quarter of 2026, down $757 million, or 34.8%, from $2.173 billion in the first quarter of 2025, Berkshire Hathaway disclosed in its quarterly report filed May 2.
The earnings decline reflected sharply higher claim frequencies and severities across private passenger auto coverages and a steep increase in policy acquisition expenses tied to advertising. The combined ratio at the third-largest U.S. private passenger auto insurer rose to 87.3% in the first
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