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Home > Company Index > Insurance > Property & Casualty Insurance > GEICO Corporation

GEICO Corporation
 NEWS FROM THE STANDARD
Pitching Privacy
Jun 06 2001 03:59 PM PDT

 PROFILE
Warren Buffett got GEICO. A wholly owned subsidiary of Buffett's Berkshire Hathaway, GEICO ranks among the few major insurers that still make auto insurance the backbone of their business. The company eschews agents in favor of direct marketing through such vehicles as TV and the Internet (although GEICO is stepping down its advertising efforts due to slumping revenues). In addition to auto coverage, GEICO's offerings include motorcycle insurance and emergency road service. Berkshire Hathaway uses GEICO's direct marketing channels to sell annuities. The company has operations in Asia, Europe, and throughout the US.

 COMPETITION
The Allstate Corporation (ALL)
State Farm Insurance Companies (dossier)
Travelers Property Casualty Corp. (dossier)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 5,610.00
1-Yr. Sales Growth: 17.9%
Employees: 18,000
Revenue per employee: $311,666.67

 KEY PEOPLE
• Olza M. Nicely
    CEO
• Thomas A. Wells
    CFO

 CONTACT INFO
1 GEICO Plaza
Washington, DC 20076
US
Phone: 301-986-2500
Fax: 301-986-2851
Online: Web Site

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