Geico records $1.88bn UW loss in ’22 as Berkshire’s P&C Re ops move to $2.1bn gain

Berkshire Hathaway recorded a $90mn pre-tax underwriting loss for the full-year in 2022 after having a $728mn gain the year before, as auto giant Geico generated a $1.88bn loss for the year and Berkshire’s reinsurance operations pivoted to a $1.4bn gain after reporting a $930mn underwriting loss the year before.