Geico claims severity drops Berkshire’s Q1 UW income to $47mn from $764mn

Published: Mon 2 May 2022

Rising claims severity at auto insurer Geico put a huge dent in Berkshire Hathaway’s first quarter underwriting profits, as a $178mn loss within Geico pushed the conglomerate’s total insurance underwriting profits down to $47mn from $764mn the year before.