Geico
The company's little, green spokesman. (Photo: Courtesy of company.)
About Geico
1 Geico Blvd., Washington, D.C. 20076
www.geico.com
| 301-986-2500
| Founded: 1936
Industry: Financial Services | Category: Top Private Companies
As its full name implies, the Government Employees Insurance Co. originally sold insurance to government workers and military personnel. In the mid-1930s, during the Great Depression, founder Leo Goodwin figured he could undercut rivals by targeting low-risk groups and selling to them directly without agents. Today, Geico is one of the nation's largest automobile and property insurers, with more than 8 million policyholders. Warren E. Buffett's Berkshire Hathaway bought the company in 1996.
Chairman, president and CEO: Tony Nicely
2007 Financial Data
Total employees: 22,840 | Local employees: 2,243Did You Know
SAGE ADVICE: Buffett bought his first Geico shares in 1951, after taking a train to Washington for a look-see. The offices were closed, but a janitor directed him to Lorimer Davidson, an investment banker and friend of the founding family, for a chat.
