NewsHK
The broader insurance cycle has grown increasingly difficult for American underwriters, and Geico's latest results give that pressure a number.
The insurer posted a 45% decline in earnings, a result that lands directly on Berkshire Hathaway, whose insurance segment generates more than a quarter of the conglomerate's total revenue.
A number that reaches the top of the house Berkshire Hathaway operates across a wide range of industries, but insurance is the pillar carrying the largest share of its revenue.
The company's insurance operations account for more than a quarter of group revenue. At that concentration, a 45% earnings drop at Geico does not stay inside the subsidiary.
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