Geico
About Geico
1 Geico Plaza, Washington, D.C. 20076
www.geico.com
| 301-986-2500
| Founded: 1936
Industry: Financial Services | Category: Top Private Companies
Hurricanes Katrina and Rita, which struck the Gulf Coast late last summer, were the biggest news throughout the property insurance industry. For those storms plus Hurricane Wilma, Geico paid about 55,000 claims, and reported a loss from the three storms of $200 million.
At the same time, Geico has been pressing hard for growth, advertising heavily on television and in other media — featuring its signature gecko — to put its name before the public and to convince motorists that its premiums are lower than competitors'.
CEO: Tony Nicely
2005 Financial Data
Revenues: $10,100,000,000Total employees: 20,000 | Local employees: 2,200
Did You Know
Founded as Government Employees Insurance Co., Geico is now a wholly owned subsidiary of Berkshire Hathaway Inc. It writes automobile, home, boat and personal umbrella liability insurance policies through Government Employees Insurance and several affiliates. A direct writer, meaning it does not use agents, Geico insures 10 million vehicles for 6 million policyholders and is the fourth-largest insurer of private passenger autos in the country.
