Berkshire’s Geico Q1 CoR improves 9.2 points to 92.7% as NWP declines 2%
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Berkshire’s Geico Q1 CoR improves 9.2 points to 92.7% as NWP declines 2%

Farhin Lilywala
May 06, 2023
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Berkshire Hathaway’s Geico swung to an underwriting gain in Q1 as its combined ratio decreased 9.2 points to 92.7%, fueled by higher average premiums per policy, a reduction in advertising costs and reserve releases.

The carrier also reported lower claims frequencies, offset by increases in claims severities. Decreases in average claims frequencies in the quarter can be broken down into property damage (5%-6%) and collision (6%-7%), while claims frequencies increased for bodily injury...

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News Berkshire Hathaway Earnings
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Farhin Lilywala
Section Editor, Distribution & Specialty
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