While premiums written grew, claims frequencies and severity up across all coverage types in first nine months as driving levels returned to near pre-pandemic levels. Berkshire Hathaway reported its third quarter and nine-month earnings on November 6, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, […]
GEICO Reports Collision Claims Severity Up 7-9% in First Nine Months of 2020
Frequency remained down 24-26% so far this year compared to 2019. On November 7, Berkshire Hathaway Inc. reported its third quarter earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company’s quarterly report, GEICO generated a pre-tax underwriting earnings of $276 million. The company reported significant […]
GEICO Reports Collision Claims Frequencies Were Down 24-26% in First Half of 2020
Collision severity up for first half. Overall premiums written were down 7% in the quarter and 1.1% for first six months. On August 8, Berkshire Hathaway Inc. reported its second quarter earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company’s quarterly report, GEICO generated pre-tax […]