Tag: GEICO

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GEICO, a subsidiary of Berkshire Hathaway, announced the creation of 500 new jobs in North Texas as part of its expanding commercial insurance business. During a ceremony marking the occasion, the company revealed that 300 positions will support its Richardson office, now a main hub for serving small business customers alongside locations in Katy, Texas, and Fredericksburg, Virginia. The remaining 200 roles will focus on sales, service, and claims for other insurance lines.

The expansion comes on the heels of significant growth in GEICO’s commercial insurance segment, fueled by new offerings like long-haul trucking coverage. The new roles aim to support the company’s increasing customer base and ensure continued growth.

Jason Andrukonis, GEICO’s Head of Commercial Insurance Operations, emphasized the strategic importance of North Texas, a region with a strong talent pool and vibrant business community. “This investment positions GEICO as a premier destination for small business insurance, helping businesses save money and safeguard their livelihoods,” he said.

Richardson Mayor Bob Dubey praised the expansion, noting its positive impact on the local economy and workforce. “This is a testament to our community’s ability to attract and support thriving businesses,” he stated.

GEICO is actively hiring for commercial insurance sales and service positions, with opportunities for leadership development and career growth.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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In a groundbreaking collaboration, Berkshire Hathaway’s auto insurance giant, GEICO, has joined forces with Netflix to launch a unique advertising campaign featuring the iconic GEICO Gecko alongside the animated star of Netflix’s latest hit, Leo.

The animated feature, Leo, recently made its debut on Netflix and swiftly ascended to the coveted #1 spot on the global top 10 list. Capitalizing on the film’s success, GEICO’s ad campaign integrates the beloved GEICO Gecko, offering advice and insights to the animated lizard sensation, Leo.

What sets this campaign apart is the active involvement of the GEICO Gecko in the production process. The charming green spokesperson was seen consulting on-set, providing guidance on a myriad of topics, ranging from delivering stellar performances in front of the camera to achieving the perfect lighting for the distinctive lizard scales to ensure they pop on screen.

This innovative collaboration was made possible through a strategic partnership between The Martin Agency’s newly established Martin Entertainment division and Netflix’s Marketing Partnerships team. The campaign also received crucial media support from GEICO’s designated media agency, IPG Mediabrands.

The fusion of GEICO’s marketing prowess with the entertainment expertise of The Martin Agency and Netflix’s creative team has resulted in a campaign that not only captures the spirit of Leo but also elevates the synergy between two iconic brands. As streaming platforms and advertisers continue to explore new avenues for engagement, this co-branded campaign sets a precedent for innovative and captivating collaborations in the ever-evolving landscape of entertainment and advertising.

© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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GEICO has closed all 38 of its offices in California and laid off several hundred employees.

According to the insurer, the move will not impact its ability to write policies in the state.

“We continue to write policies in California, and we remain available through our direct channels for the more than 2.18 million California customers presently insured with us,” GEICO said in a Sacramento Bee article.

© 2022 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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GEICO’s Executive Chairman Tony Nicely has announced he will retire from his role at the end of the year, concluding an illustrious 60-year career.

Prior to assuming his current position as executive chairman in 2018, Nicely served as chairman and CEO of GEICO for 25 years.

Nicely’s leadership ushered in the most impressive growth era in GEICO history and turned the company into one of the country’s most recognizable brands. The company surged ahead to become the nation’s second largest auto insurer, with nearly 17 million policyholders at the end of his tenure as chairman and CEO. Today, GEICO insures more than 18.6 million policyholders.

Under Nicely’s watch, GEICO’s associate population increased more than eight-fold to a family of some 40,000, working at 18 locations across the country.

During his time as chairman and CEO, GEICO also experienced one of its most critical milestones. In 1996, the company became a wholly owned subsidiary of Berkshire Hathaway after Berkshire Hathaway Chairman and CEO Warren Buffett announced the holding company would buy out the remaining 49% of shares it didn’t already own.

Nicely shared his expertise with the entire property/casualty insurance industry, serving on boards for the American Property Casualty Insurance Association, the Insurance Institute for Highway Safety and the Insurance Information Institute. He was also inducted into the Washington Business Hall of Fame for his achievements.

During Nicely’s tenure as GEICO chairman and CEO, Berkshire Hathaway Chairman and CEO Warren Buffett often commended Nicely for his distinguished leadership. Buffett wrote of Tony in his 2018 annual shareholder letter, “He is a model for everything a manager should be.”

In an earlier letter to shareholders, Buffett added, “If you have a new son or grandson in 2006, name him Tony,” after praising GEICO for having an exceptional year of growth and profitability.

Nicely came to GEICO in 1961 as an endorsement clerk in the company’s underwriting department. A teenager at the time, he initially viewed the opportunity as a short-term job so he could save money to attend college and pursue an engineering degree.

Nicely soon discovered a career at GEICO was his passion, and he was quickly promoted through several ranks in management before the Board of Directors elected him assistant vice president of underwriting at age 29.

Nicely went on to serve in executive roles with increasing responsibility before first assuming the role of CEO and later adding the title of chairman. His business expertise and humble leadership is largely responsible for shaping GEICO into the company it is today.

© 2021 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.