GEICO

Government Employees Insurance Company
Company typeSubsidiary
IndustryInsurance
Founded1936; 88 years ago (1936)
San Antonio, Texas, United States[1]
FoundersLeo Goodwin Sr.
Lillian Goodwin
Headquarters
Chevy Chase, Maryland
,
United States
Area served
United States
Key people
Todd Combs (CEO)
ProductsAuto insurance
Revenue$35.093 billion USD (2020) [2]
Number of employees
40,000[3]
ParentBerkshire Hathaway
Websitewww.geico.com

The Government Employees Insurance Company (GEICO /ˈɡaɪkoʊ/) is an American auto insurance company headquartered in Chevy Chase, Maryland. In addition to auto insurance, GEICO provides motorcycle, ATV, RV, boat, snowmobile, travel, pet, event, homeowner, renter, and jewelry insurance options.[4] It is the second largest auto insurer in the United States, after State Farm.[5] GEICO is a wholly owned subsidiary of Berkshire Hathaway, which provides coverage for more than 24 million motor vehicles owned by more than 15 million policy holders as of 2017. GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. The insurance agency sells policies through local agents, called GEICO Field Representatives, over the phone directly to the consumer via licensed insurance agents, and through their website. Its mascot is a gold dust day gecko with a Cockney accent, voiced by English actor Jake Wood. GEICO is well known in popular culture for its advertising.

Despite the presence of the word "government" in its name, GEICO has always been a private corporation and not a government agency or a government-owned corporation. Leo Goodwin Sr. and his wife Lillian Goodwin originally founded the company in 1936 to sell auto insurance to federal government employees.[6]

GEICO manages the policies as the "insurance agent" and has a separate customer care team that handles the property and umbrella policies.

  1. ^ Cite error: The named reference Empower was invoked but never defined (see the help page).
  2. ^ "Berkshire Hathaway Inc. 2020 Form 10-K". United States Securities and Exchange Commission. March 1, 2021. Retrieved March 11, 2021.
  3. ^ "GEICO At A Glance - Important Corporate Statistics - GEICO®". www.geico.com. Archived from the original on July 2, 2017. Retrieved May 9, 2018.
  4. ^ McWhirter, Katy (November 13, 2023). "Geico home insurance review 2024". USA Today.
  5. ^ Yerak, Becky (June 13, 2013). "Geico tops Allstate as nation's No. 2 auto insurer in 1Q". Chicago Tribune. Archived from the original on August 6, 2015.
  6. ^ Cite error: The named reference history was invoked but never defined (see the help page).