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Berkshire’s Geico Unit Slashes Ad Spending Amid Slump

Por: MarketWatch Business November 09, 2022

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Geico, which had been the crown jewel of the large property and casualty operations of (Ticker BRK/A, BRK/B), has struggled in recent quarters because of sharply increased claims expenses related to higher prices for used cars, auto parts and labor. More accidents are another factor. Long consistently profitable, Geico reported its fifth straight quarterly underwriting loss in the third quarter, which totaled $759 million, Berkshire reported on... + full article



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