WASHINGTON, D.C., July 13, 2010 – GEICO, a major league player when it comes to its national advertising campaigns, is also a homerun hitter when it comes to its financial performance.
For the 20th consecutive year, GEICO was named to the Ward's 50 top group of financially high-performing insurers.
U.S. insurers are named to the list by achieving safe and consistent levels of surplus and premiums, net income, risk-based capital ratio and compound annual growth. Companies in the Ward's top 50 also have produced excellent returns on average equity and assets, total revenue, growth in revenue, surplus to written premium and combined ratio over a five-year average.
The achievement is particularly significant for GEICO because during the 20 years that it earned top financial honors from Ward's, GEICO introduced new business strategies that led to managing an enormous number of new policies. The company became the fastest growing auto insurer in the country and is now the third largest private passenger auto insurer in the U.S.
Insurers in the Ward's 50, having been thoroughly scrutinized by a series of financial performance measures, create ongoing stability in their business sector, a welcome indicator for customers and investors.
GEICO first made the list in 1991 when the ratings were initially created by the Ward Group.
GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the third-largest private passenger auto insurance company in the United States. GEICO provides millions of auto insurance quotes to U.S. drivers annually. The company is pleased to serve more than 11 million private passenger customers and insures more than 18 million vehicles (auto & cycle).
GEICO's online service center helps policyholders take care of policy sales, policy changes, claims reporting and to print insurance ID cards.
GEICO also provides insurance quotes on motorcycles, all-terrain vehicles (ATVs), travel trailers and motorhomes (RVs). Coverage for boats, life, homes and apartments is written by non-affiliated insurance companies and is secured through the GEICO Insurance Agency, Commercial auto insurance and personal umbrella protection are also available.
For more information, go to www.geico.com.