Berkshire Hathaway

Geico reported lower frequency, higher severity and increased favorable development.

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Its confederation of insurance subsidiaries will have to operate with fewer strategic advantages than they do today.

The underwriter will work in the retail property team at BHSI serving the central region.

Berkshire Hathaway announced that Munger “died peacefully” in a California hospital this morning, citing the Berkshire vice chairman’s family.

The executive has over three decades of surety experience in underwriting, consulting, and claims roles, including a stint as surety claims counsel.

Lower losses reflected higher average premiums per auto policy, increased reserve releases and lower claims frequency, which were partially offset by higher severity.

Ahead of third quarter earnings, many personal lines insurers are pulling several levers to right-size their operations, including conducting layoffs and reducing exposure.

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Sources said the Houston, Texas-headquartered program manager is now writing business on Sutton National paper.

Joining the company in 2014 as senior underwriter, casualty, Meyer has held increasingly senior positions in BHSI’s North America casualty organization.

The two subsidiaries, which together command less than 1% of the homeowners' market share in the Golden State, are the latest to flee amid persistent inflation, high cat losses and a strict regulatory environment.