Reports underwriting loss in quarter as losses and loss adjustment expense were up over 32%.
Berkshire Hathaway reported its first quarter 2022 earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, GEICO premiums written in the first quarter of 2022 were $10.265 billion, an increase of $259 million or 2.6% compared to $10.006 billion in the first quarter of 2021
According to the company’s quarterly 10-K report, the increase was primarily due to an increase in average premiums per auto policy due to rate increases, as average policies in-force were
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