Frequency was down for first half. Policies in force down 14.4% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its second quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on August 5. GEICO’s pre-tax underwriting earnings in the first six months of […]
GEICO Reports Collision Claim Severity 7-8% Higher in First Quarter Compared to Last Year
Collision frequency was down for the quarter. Berkshire Hathaway reported its first quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on May 6. The company reported claims frequencies in the first quarter of 2023 were lower for property damage (five to six percent range) […]
Berkshire Hathaway Reports GEICO Collision Claims Severity 17-19% Higher in First Nine Months of 2022 Compared to Last Year
Higher used car prices and parts shortages increasing costs of claims. Berkshire Hathaway reported its third quarter 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on November 5. According to the company, GEICO’s pre-tax underwriting losses in 2022 reflected increased claims severities, primarily due to […]
Berkshire Hathaway Reports GEICO Underwriting Loss in Third Quarter of 2021
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 […]