Written premiums down 3% due to coronavirus rebates, collision claims down 23-24%. On February 27, Berkshire Hathaway Inc. reported its fourth quarter and full year earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, GEICO’s pre-tax underwriting earnings for 2020 reflected significant declines in losses […]
State Farm Reports Earned Premium of $65.1 Billion
The largest auto insurer in the U.S. reports growth in auto policies for second year in a row. Reduced auto premiums 11%. The State Farm P-C group of companies reported earned premium of $65.1 billion, a combined underwriting gain of $1.9 billion, and paid $1.9 billion in dividends to policyholders. This result compared to an […]
Uni-Select Reports Fourth Quarter Sales of $366.2 Million
Uni-Select Inc. (TSE:UNS) today reported consolidated sales of $366.2 million for the quarter ended December 31, a decline of 11.2% compared to the same quarter in 2019. Sales were impacted by COVID 19, resulting in negative consolidated organic growth of 12.0%. The fourth quarter was an improvement over the third quarter when negative organic growth […]
Axalta Fourth Quarter Sales Down 2.2% Compared to 2019
Axalta Coating Systems Ltd. (NYSE:AXTA) announced its fourth quarter net sales were $1,074.5 million down 2.2% year-over-year, including a 1.8% foreign currency benefit. The result was driven by 3.8% lower volumes and 0.2% lower average price and product mix. Lower volumes were driven by ongoing COVID-19 related impacts primarily in the Refinish end-market, while volumes […]
LKQ Reports Fourth Quarter Revenue Down 1.9% Compared to 2019
LKQ Corporation (Nasdaq:LKQ) reported evenue for the fourth quarter of 2020 was $2.95 billion, a decrease of 1.9% as compared to $3.01 billion in the fourth quarter of 2019. For the fourth quarter of 2020, parts and services organic revenue decreased 5.2% (6.1% on a per day basis), while the net impact of acquisitions and […]
Amica Insurance Reported $2.4 Billion in Earned Premiums for Second Straight Year
Amica Mutual Insurance Company at its Annual Meeting on February 11 reported continued financial stability in 2020 and that it returned nearly $90 million to customers for COVID-19 premium relief. Amica Chairman, President and Chief Executive Officer Robert A. DiMuccio announced the results during the company’s annual meeting at its corporate headquarters. Amica’s earned premiums […]
Axalta Releases Preliminary Fourth Quarter 2020 Earnings Update
Axalta Coating Systems Ltd. (NYSE:AXTA) announced its preliminary results for the fourth quarter of 2020. Fourth quarter net sales of $1,074.5 million decreased 2.2% from $1,098.4 million in Q4 2019, and increased 4.6% sequentially from Q3 2020 with all end-markets showing improvement, given continued recovery from pandemic-related demand impacts. According to the company refinish demand […]
PPG Reports Fourth Quarter Sales Up More Than 2%
While overall sales were up compared to 2019, net sales for automotive refinish coatings were slightly higher compared to the third quarter 2020, but below 2019. PPG (NYSE:PPG) reported fourth quarter 2020 net sales of approximately $3.8 billion, more than 2% higher versus the prior year. Selling prices increased by about 1.5%. Sales volumes decreased […]
Uni-Select Reports Third Quarter Sales Down 12.3%
Uni-Select Inc. (TSE:UNS) today reported its sales for the third quarter ended September 30 were $395.352 million, down 12.3% from 450.758 million in the third quarter of 2019. Sales for the nine month period were $1.105 billion, down 16.7% from $1.327 billion in the first nine months of 2019. Sales sequentially improved month-over-month from April […]
Boyd Group Reports Third Quarter Sales Down 10.3%
Same stores sales were down 15% as pandemic continues to impact driving. Boyd Group Services Inc. announced sales for the third quarter ending September 30 decreased by 10.3% to CA$508.3 million ($386.9 million) from CA$567.0 million ($431.6 million) in the same period of 2019, including same-store sales decreases of 15.0%, with Canada having a greater […]
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