Have we reached peak Berkshire Hathaway?

The three pillars of Berkshire’s insurance arm GEICO GEICO, wholly owned by Berkshire since 1996, remains one of America’s largest personal-auto insurers. Writing primarily through direct online and phone channels, it generated an estimated $7.8 billion in underwriting profit in 2024, according to Berkshire’s latest annual report. That marks a turnaround from earlier years of margin pressure as claims inflation and repair-cost surges challenged auto insurers industry-wide. GEICO’s scale — more than 18 million policies in force — gives Berkshire a steady stream of low-cost float and recurring premium cash flow. Berkshire Hathaway Primary Group (BH Primary) The Primary Group encompasses dozens of commercial-lines insurers that sell coverage for property, casualty, workers’ compensation and specialty risks across the United States. These companies include Berkshire Hathaway Specialty Insurance, MedPro Group, National Indemnity’s primary operations, and several regional carriers.