Berkshire Hathaway auto unit Geico sinks to $1.9bn 2022 loss

Berkshire Hathaway auto unit Geico sinks to $1.9bn 2022 underwriting loss

Berkshire Hathaway’s retail auto insurer Geico ended 2022 with a massive $1.9 billion pre-tax underwriting loss in 2022, adding $456 million in losses in the fourth quarter alone with no visible improvement loss ratios despite finally showing rates rising at an accelerated pace.

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Berkshire Hathaway, 2022 Underwriting loss, Tax, Rates, Insurance, Reinsurance, Underwriting, Claims, UK

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Berkshire Hathaway auto unit Geico sinks to $1.9bn 2022 underwriting loss

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