Latest news with #GEICO
Business Wire
22-05-2025
- Business
- Business Wire
GEICO Accepting Nominations for 2025 GEICO Military Service Awards
WASHINGTON--(BUSINESS WIRE)--As the country prepares to commemorate Memorial Day, GEICO has announced it is now accepting nominations for its 37th annual GEICO Military Service Awards that recognize service members for their strength of character. Through this program, one active duty or reserve enlisted servicemember from each of the six branches of military service and one enlisted member from the National Guard will be honored for volunteer activities and contributions that enrich their communities, as well as mission accomplishments while on duty. GEICO Military Service Award honorees receive a certificate of achievement to commemorate their accomplishments, as well as a cash honorarium of $5,000 from the GEICO Philanthropic Foundation. Since this program was founded, GEICO has contributed more than $500,000 to honor members of the military. The 2025 GEICO Military Service Award nomination forms are due to GEICO no later than Dec. 30, 2025. Individuals interested in submitting a nomination can learn more about the application requirements for each branch of the military and where to send a completed application on GEICO's Military Service Award homepage. Nomination details All six branches of the military, and one enlisted member from the National Guard are eligible: Army Marine Corps Navy Air Force Space Force Coast Guard All currently serving enlisted service members (E-7 and below), including Reserve and National Guard with at least one year of retainability/obligated service remaining following the Dec. 30, 2025, submission deadline, are eligible. Through the individual service's established procedures, each military branch of service may nominate all enlisted members who have provided outstanding service to their military and civilian communities. Nominees will be judged first on their off-duty volunteer activities, and then their in-uniform accomplishments, to the extent these activities serve to inspire civilians and military personnel. Individuals who fill out a nomination should submit materials in one package consisting of no more than three pages. To be considered, all nominations must be submitted and received by Dec. 30, 2025. Nomination packages must include the following: A completed GEICO Military Service Award nomination form. A high resolution, digital photo with head and shoulders view of the nominee in service dress uniform without cover/headgear. A letter of endorsement from the highest military authority on the assigned installation or the first O-6 commander in the chain of command. GEICO will make its final selections and notify each recipient and their respective command during the first half of 2026. About GEICO GEICO (Government Employees Insurance Company), the third-largest auto insurer in the U.S., was founded in 1936 and insures vehicles in all 50 states and the District of Columbia. GEICO, a member of the Berkshire Hathaway family of companies, constantly strives to make lives better by protecting people against unexpected events while saving them money and providing an outstanding customer experience. Along with personal auto insurance, commercial auto and personal umbrella coverages are also available. Homeowners, renters, condo, flood, identity theft, term life, and more coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC. Visit for a quote or to learn more.
Yahoo
22-05-2025
- Business
- Yahoo
GEICO Accepting Nominations for 2025 GEICO Military Service Awards
Application deadline set for Dec. 30, 2025 WASHINGTON, May 22, 2025--(BUSINESS WIRE)--As the country prepares to commemorate Memorial Day, GEICO has announced it is now accepting nominations for its 37th annual GEICO Military Service Awards that recognize service members for their strength of character. Through this program, one active duty or reserve enlisted servicemember from each of the six branches of military service and one enlisted member from the National Guard will be honored for volunteer activities and contributions that enrich their communities, as well as mission accomplishments while on duty. GEICO Military Service Award honorees receive a certificate of achievement to commemorate their accomplishments, as well as a cash honorarium of $5,000 from the GEICO Philanthropic Foundation. Since this program was founded, GEICO has contributed more than $500,000 to honor members of the military. The 2025 GEICO Military Service Award nomination forms are due to GEICO no later than Dec. 30, 2025. Individuals interested in submitting a nomination can learn more about the application requirements for each branch of the military and where to send a completed application on GEICO's Military Service Award homepage. Nomination details All six branches of the military, and one enlisted member from the National Guard are eligible: Army Marine Corps Navy Air Force Space Force Coast Guard All currently serving enlisted service members (E-7 and below), including Reserve and National Guard with at least one year of retainability/obligated service remaining following the Dec. 30, 2025, submission deadline, are eligible. Through the individual service's established procedures, each military branch of service may nominate all enlisted members who have provided outstanding service to their military and civilian communities. Nominees will be judged first on their off-duty volunteer activities, and then their in-uniform accomplishments, to the extent these activities serve to inspire civilians and military personnel. Individuals who fill out a nomination should submit materials in one package consisting of no more than three pages. To be considered, all nominations must be submitted and received by Dec. 30, 2025. Nomination packages must include the following: A completed GEICO Military Service Award nomination form. A high resolution, digital photo with head and shoulders view of the nominee in service dress uniform without cover/headgear. A letter of endorsement from the highest military authority on the assigned installation or the first O-6 commander in the chain of command. GEICO will make its final selections and notify each recipient and their respective command during the first half of 2026. About GEICO GEICO (Government Employees Insurance Company), the third-largest auto insurer in the U.S., was founded in 1936 and insures vehicles in all 50 states and the District of Columbia. GEICO, a member of the Berkshire Hathaway family of companies, constantly strives to make lives better by protecting people against unexpected events while saving them money and providing an outstanding customer experience. Along with personal auto insurance, commercial auto and personal umbrella coverages are also available. Homeowners, renters, condo, flood, identity theft, term life, and more coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC. Visit for a quote or to learn more. View source version on Contacts GEICO Communicationsgcorpcomm@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Automotive
- Yahoo
Tesla and Waymo Are Poised to Poke Buffett's Golden Goose: Is Berkshire Hathaway Still a Safe Stock?
GEICO is the biggest part of Berkshire's core property and casualty business. Robotaxis from Tesla and Waymo could dramatically disrupt GEICO's business, especially if they replace personal car ownership. However, Berkshire Hathaway should remain a safe long-term pick because of its tremendous diversification. 10 stocks we like better than Berkshire Hathaway › Don't expect Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) to skip a beat when Warren Buffett hands the reins over to Greg Abel as CEO next year. Buffett even told Berkshire shareholders at their annual meeting earlier this month that the company's prospects "will be better under Greg's management than mine." However, that doesn't mean that Berkshire couldn't still face a bumpy road ahead. Tesla (NASDAQ: TSLA) and Google parent Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Waymo unit are poised to poke Buffett's golden goose. What is Buffett's golden goose? It's Berkshire Hathaway's insurance business -- especially GEICO. Berkshire first initiated a position in GEICO in 1976 and wholly acquired the company two decades later. GEICO now ranks as the third-largest auto insurance company in the U.S., with a market share of around 12.3%. In his latest letter to shareholders, Buffett said that property and casualty (P&C) "continues to be Berkshire's core business." More than 10% of the conglomerate's total earnings last year stemmed from insurance premiums. Investment income from Berkshire's insurance business generated another 15% of total earnings. Buffett said at the recent annual shareholder meeting that GEICO's auto insurance "is by far the largest item in the property & casualty insurance business. It's huge." Ajit Jain, who heads Berkshire's insurance operations, added that "in addition to underwriting profit, GEICO provides $29 billion of float." GEICO has been a remarkably stable business. Buffett noted: "The interesting thing about auto insurance is that we're selling the same product as in 1936 when the company was started. We're just being more sophisticated about pricing it." However, that stability could soon be rocked. During the shareholder meeting, Buffett and Jain were asked how autonomous vehicles might disrupt GEICO's auto insurance business. Jain responded, "There's no question that insurance for automobiles is going to change dramatically once self-driving cars become a reality." He's right, except for the future tense: Self-driving cars are already a reality. Alphabet's business unit Waymo operates 24/7 autonomous ride-hailing -- also known as robotaxi -- services in Phoenix, San Francisco, Los Angeles, and Austin. It plans to soon launch in Atlanta and Miami. Waymo doesn't have a spotless safety record, but it's nonetheless impressive. In over 57.6 million miles of driving, Waymo's robotaxis had 92% fewer crashes with injuries to pedestrians and 82% fewer crashes with injuries to cyclists and motorcyclists than human drivers did. Tesla will soon jump into the robotaxi market. The electric-vehicle maker hopes to introduce its Cybercabs in Austin in June. CEO Elon Musk said on Tesla's first-quarter earnings call that most Tesla EVs are capable of being robotaxis. He stated, "Once we make it work in a few cities, we can basically make in work in all cities." Sure, both Tesla and Waymo have run into some speed bumps. Waymo recently announced it's recalling 1,200 vehicles to address collision risks. The National Highway Traffic Safety Administration's Office of Defects Investigation is also investigating Tesla's fully autonomous driving technology in advance of its robotaxi service debut. However, it's almost certainly a question of when, not if, robotaxis become much more prevalent throughout the U.S. Jain's comments at Berkshire's shareholder meeting centered on the safety of self-driving cars. He believes that "the number of accidents will drop dramatically because of automatic driving." On the other hand, Jain thinks that repair costs will jump because of the expensive technology in autonomous vehicles. GEICO is already preparing for this shift. Jain mentioned that the Berkshire subsidiary is exploring options to focus less on insurance for operator errors, and more on insurance for product errors and omissions in the design and manufacturing of self-driving vehicles. But GEICO could face a much more consequential change from robotaxis. Cathie Wood and her team at the investment management firm Ark Invest think that robotaxis "could be the most impactful innovation in history." In particular, they expect the technology will cause auto sales to decline by roughly 50% in North America and Europe. If those projections are anywhere close to being right, Buffett's golden goose could be headed for a sharp revenue decline with fewer auto insurance policies sold. At the same time, errors and omissions insurance policies typically cost much less than auto insurance. GEICO might be hit by a robotaxi double whammy. Does the coming robotaxi revolution threaten Berkshire Hathaway's status as a safe bet for long-term investors? I don't think so. Not everyone agrees with Ark Invest's predictions about the robotaxi market. For example, Lux Research thinks that robotaxis will replace human-driven taxis and ride-hailing services. However, the research and advisory company expects that the costs of robotaxis will be higher than personal car ownership. Lux also believes that "car ownership as a status symbol" will be an obstacle to robotaxis disrupting the auto market too much. It's also important to remember how diversified Berkshire Hathaway is. Although auto insurance is a key part of the conglomerate's business, Berkshire generates a lot more revenue and profits from its other businesses than it does from GEICO. That diversification could increase with Abel as CEO. The bottom line is that Tesla and Waymo (along with other robotaxi leaders) will likely cause GEICO to change its business model in major ways over the next decade. But I don't expect Buffett's golden goose to be cooked anytime soon. Berkshire Hathaway should remain a safe long-term pick. Before you buy stock in Berkshire Hathaway, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Berkshire Hathaway wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keith Speights has positions in Alphabet and Berkshire Hathaway. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, and Tesla. The Motley Fool has a disclosure policy. Tesla and Waymo Are Poised to Poke Buffett's Golden Goose: Is Berkshire Hathaway Still a Safe Stock? was originally published by The Motley Fool
Yahoo
11-05-2025
- Business
- Yahoo
Should You Buy Berkshire Hathaway B Shares While They Are Below $550?
The stock slid 5% on the news that longtime CEO Warren Buffett plans to step down at the end of 2025. Berkshire Hathaway has a stock portfolio worth roughly $279 billion. The holding company has $348 billion in cash and cash equivalents. 10 stocks we like better than Berkshire Hathaway › Warren Buffett recently announced he'll step down as chief executive officer of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) at the end of 2025, with Vice Chairman of Non-Insurance Operations Greg Abel set to take over. Buffett will remain chairman, but the transition marks a significant milestone for the $1.1 trillion company. Buffett has led the company since 1965 and during that time it delivered an unparalleled 19.9% annualized return through 2024, nearly double the S&P 500. Berkshire shares have dipped about 5% since the announcement, as investors adjust to the idea of new leadership. With that shift on the horizon, it's a good time to take stock of where Berkshire stands and how Abel may shape its future. Before digging into Berkshire's latest earnings release, here's a refresher on Berkshire Hathaway's assets, which Abel will soon oversee. Today, Berkshire Hathaway owns 189 operating businesses, including major names like BNSF Railway, Dairy Queen, and See's Candies. However, its full ownership of insurance powerhouse GEICO -- acquired in 1996 -- has arguably been its most powerful growth engine. As a property and casualty insurer, GEICO collects premiums up front, creating what's known as float. Berkshire can invest this float until policy claims are paid out, effectively turning insurance operations into a source of investment capital. During the past two decades, Berkshire's float has expanded from $47 billion to $173 billion, fueling the growth of a stock portfolio now valued at roughly $279 billion. The company currently holds positions in 44 publicly traded companies, with Apple, Coca-Cola, and American Express its top three holdings. In addition to its businesses and investments, Berkshire has amassed a record $348 billion in cash and cash equivalents. Most of this is parked in short-term U.S. Treasury bills -- low-risk government-issued debt that matures in a year or less -- currently yielding between 4% and 4.3%. Berkshire could earn nearly $14 billion in interest over the next year at those rates, assuming yields remain stable. Despite Berkshire's current cash strategy, Buffett has previously written that he dislikes parking cash in Treasury bills. In a previous shareholder letter, Buffett wrote, "Over the long term, however, [Treasury bills] are riskier investments -- far riskier investments -- than widely diversified stock portfolios that are bought over time." He also said Berkshire only invests in Treasury bills when it "can't find anything exciting in which to invest," citing their safety and liquidity as advantages. At Berkshire's most recent annual meeting, with the company's CEO transition on the horizon, Abel addressed his approach to capital allocation. He began by stressing the importance of financial strength: We will have a fortress of a balance sheet. ... We've got a significant set of cash right now, but it's an enormous asset to have that. And that will continue to be a philosophy. Abel then outlined his capital allocation priorities. First, he focuses on reinvesting in Berkshire's existing operating businesses. Next, he looks to acquire entire companies. And finally, he considers partial ownership stakes in publicly traded companies. In closing, Abel offered reassurance to shareholders about the future of Berkshire's investment strategy: "How Warren and the team have allocated capital for the past 60 years, really, it will not change. And it's the approach we'll take as we go forward." Thanks to its huge cash reserves, Berkshire Hathaway is well positioned to benefit if a recession hits. You don't have to look far to find examples of how the company has historically thrived during economic slowdowns. During the 2008 financial crisis, Berkshire purchased $5 billion in preferred shares of Goldman Sachs, redeeming them three years later for a $3.7 billion gain. In 2009, it provided a $303 million loan to Harley-Davidson at a steep 15% interest rate, helping the motorcycle manufacturer maintain financing for its customers and dealers. And in 2011, Buffett invested $5 billion in Bank of America preferred stock and warrants, which has netted over $30 billion in paper profits to date. Although no one can say exactly when the next recession will arrive, Berkshire's incoming CEO will have both the liquidity and the playbook to seize opportunities when it does. If anyone has proven that leadership matters, it's Buffett. And whenever a new CEO steps in, it's natural to question how effective they will be in the role. For now, investors will have to trust Buffett's judgment -- something that has delivered exceptional returns for decades. Not only does Abel have the full backing of Buffett, but he is set to inherit a company that is flush with cash and generated $45.8 billion in operating earnings over the trailing 12 months, meaning the odds of success are overwhelmingly in his favor. The only real question is whether Abel can drive Berkshire forward as effectively as Tim Cook did with Apple after Steve Jobs. Even so, with its resilient business model and potential upside in an economic downturn, Berkshire remains a compelling buy for long-term investors. Before you buy stock in Berkshire Hathaway, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Berkshire Hathaway wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $614,911!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $714,958!* Now, it's worth noting Stock Advisor's total average return is 907% — a market-crushing outperformance compared to 163% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 5, 2025 American Express is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Collin Brantmeyer has positions in American Express, Apple, and Berkshire Hathaway. The Motley Fool has positions in and recommends Apple, Bank of America, Berkshire Hathaway, and Goldman Sachs Group. The Motley Fool has a disclosure policy. Should You Buy Berkshire Hathaway B Shares While They Are Below $550? was originally published by The Motley Fool Sign in to access your portfolio
Arabian Post
08-05-2025
- Business
- Arabian Post
Berkshire's Cash Stash Hits Historic High as Buffett Prepares Exit
Berkshire Hathaway has amassed a record $347.7 billion in cash reserves, marking a significant milestone as Warren Buffett prepares to retire by the end of 2025. The conglomerate's substantial cash position reflects a cautious investment approach amid global economic uncertainties and a perceived lack of attractive acquisition opportunities. Buffett, who has led Berkshire for over six decades, announced his retirement plans at the company's annual shareholder meeting in Omaha. He endorsed Vice Chairman Greg Abel as his successor, entrusting him with the leadership of the conglomerate and its vast cash holdings. Buffett expressed confidence in Abel's capabilities, stating that he shares the company's investment philosophy and commitment to shareholder value. The decision to hold a substantial cash reserve is consistent with Berkshire's historical strategy of maintaining liquidity to capitalize on market downturns. Notably, similar cash accumulations occurred before the dot-com crash in 1999, the global financial crisis in 2007–2008, and the COVID-19 pandemic in 2019. Buffett has indicated that current market valuations do not present compelling investment opportunities, prompting the company to adopt a more conservative stance. Despite the record cash holdings, Berkshire reported a 14% year-over-year decline in operating income, totaling $9.6 billion. This decrease was attributed to underperformance across several business units, reflecting broader economic challenges. However, the company's insurance division, particularly GEICO, demonstrated resilience, contributing positively to the overall financial performance. Berkshire's investment portfolio remains heavily concentrated in a few key holdings. Apple Inc. continues to be the largest, accounting for approximately 28% of the portfolio, despite a reduction in shares held. Other significant investments include American Express, Bank of America, The Coca-Cola Company, and Chevron, collectively representing a substantial portion of the company's assets. See also Revolut's $1.4B Profit Fuels Ambitious UK Banking Plans As Buffett prepares to step down, he has taken measures to ensure a smooth transition and preserve the company's legacy. He has placed his 14% stake in Berkshire, valued at over $150 billion, into a trust managed by his children to prevent activist interference and maintain the company's strategic direction. Buffett has also reiterated his commitment to long-term equity investments, emphasizing that the majority of Berkshire's funds will remain allocated to equities, primarily in companies with substantial international operations. The leadership transition marks a significant moment in the investing world, with Abel set to inherit not only the CEO role but also the responsibility of managing the company's extensive cash reserves. Analysts suggest that Abel's approach will likely mirror Buffett's disciplined investment philosophy, focusing on value-oriented acquisitions and maintaining financial flexibility to navigate future market conditions.
