Berkshire’s 2020 underwriting profit got a shot in the arm from GEICO

Underwriting profit - Person holding out cash

The company’s income was black, even when its P/C reinsurance experience notable losses. Berkshire Hathaway recently reported that despite the widespread losses it saw in insurance on the whole, it managed to see property/casualty underwriting profit last year due to GEICO’s performance. The number two insurer in the United States managed to more than double its profits from 2019. The results GEICO brought Berkshire Hathaway brought its full-year property/casualty income into the black, despite having seen underwriting losses in P/C reinsurance in both 2019 and 2020. All tolled, GEICO brought…

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