GEICO Company History Timeline

(357 Jobs)

In 1936, he put that plan into action, establishing the Government Employees Insurance Company—the company known and loved today as GEICO. Few people realize that GEICO was initially targeted to federal employees and certain categories of enlisted military officers.


In 1948, a pivotal figure joined the company.


The link between GEICO and Warren Buffett was thereby established, and in 1951 Buffett made his first official appearance in GEICO's history.


When Leo Goodwin chose to retire in 1958, he named Davidson to be his successor.


It was Davidson who would preside at the opening of new GEICO headquarters in Chevy Chase, MD in 1959 after more than 20 years of steady growth.


GEICO experienced virtually unbroken growth, passing the 1 million policyholder mark in 1964.


Insurance premiums reached $150 million in 1965.

GEICO opened a number of sales and service offices for walk-in customers and its first drive-in claims office in 1965.


Net earnings doubled to $13 million in 1966.


Warren Buffett made another appearance in 1976 for a second purchase of GEICO stock, reported to total 1 million shares.


GEICO introduced 24-hour a day, 365-day a year telephone service for claims, sales and service in 1980 as its emphasis on customer service deepened.


In 1993, Olza "Tony" Nicely was named GEICO's new chairman, president and CEO, and worked to expand the customer base through a new four-company strategy.


The GEICO Gecko® made its first appearance during the 2000 television season and quickly became an advertising icon.


Building activities in Buffalo were completed in 2005 and associates moved into their new 250,000-square-foot regional center following a grand opening ceremony in October.


In 2006, GEICO marketing efforts, expanding Internet capabilities and customer outreach combined to attract the company's 7 millionth policyholder.


GEICO's success continued throughout 2007 as the company grew to 8 million policyholders.

By 2007, the Cavemen were not only featured in new ads, but also on an interactive Web site that showed off their contemporary and very hip lifestyle.


In 2008, the Caveman was voted America's favorite advertising icon of the year and joined the GEICO Gecko on the Advertising Week Walk of Fame.


2009 was another rewarding time for GEICO as associates celebrated a welcome growth spurt by reaching 9 million GEICO policyholders early in the year.


In 2010, GEICO provided mobile users with a first in the insurance industry—the ability to quote and buy a policy from mobile-friendly pages on their iPhone and Android mobile devices.


Growth continued in 2012 as a new milestone of 11 million GEICO policyholders was reached early in the year, and the company would add another 3 million over the next four years and become the nation's second-largest auto insurer.

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Chevy Chase, MD
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