Geico is the subsidiary of Berkshire Hathaway so when talking about Geico stocks they do not exist because the actual stocks are owned by the company Berkshire Hathaway Incooporation. The stocks are available in lower class by the name of BRK.B and is registered in the New York Stock Exchange. The Annual report for the year of 2015 shows the following facts for Geico as part of Berkshire Hathaway:
- · Approximately $22 billion Berkshire Hathaway revenue was generated by Geico making up 10%
- · Geico is partners to 2% earning of Berkshire Hathaway (which is significantly downed after 2014
- · Geico is part of 10% of Berkshire Hathaway’s assets making upto $45 billion.
The net with of Berkshire Hathaway holding company is $500 billon. So Geico does not have it’s own trading symbol rather the symbol of it’s parent company is used.
What is Geico?
Geico stands for Govetnment Employee Insurance Company. It is an auto insurance company in America with headquarters settled in the Chevy Chase Maryland and is the second largest of it’s kind. It became the subsidiary of Berkshote Hathaway in 1999 when Warren Buffet purchased the stocks. According to 2015 report it had given coverage to 22 million vehicles. The owners were the policy makers making up to 14 million. The automobile insurance to private passengers were given to 50 states of United States and District of Columbia. Their mode of selling their policies is through online window, phone calls or Geico Field representatives. It also has a mascot which is a gecko in gold dust attire and voiced by Jake Wood in ■■■■■■■ accent. Geico is famous for making entertaining advertisements thus bringing much viewership and customers.
Can we buy Geico stocks?
No Geico stocks cannot be bought since it is not an independent company rather a subsidiary of Berkshire Hathaway Incorporate. If you wish to buy the stocks than you have to open an account or see a local broker who will give an orientation into different companies to buy the stocks.
Who is the owner of Geico?
Geico is owned by Berkshire Hathaway and this company is owned by Warren Buffet. He bought the stocks to Geico when he had visited the company in 1951. The reason company was bought was laid in three most attractive things he found about the company namely profit margins, growth and valuation. Therefore ever since it is owned by Berkshire Hathaway Inc.
Is Geico cheap?
Geico is a cheap car insurance company as compared to others because they not only offer several discounts but also offer the insurance directly to the consumer. This is the most beneficial aspect of this company. This is one reason for their success as well. However another ingredient added to their popularity among consumers is their attractive advertisement which motivates consumers into savings. Geico has also made initiatives which are user friendly and innovative.
What does Geico app do?
Geico offers an app also called Geico DriveEasy. Once you have this in your mobile and then have put the phone in vehicle it will keep a track of the consumer behavior and the vehicle as well. In this way it will be able to keep a track of how you are driving and then give you safety tips and also record scored for driving.