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Published byKelley Simpson Modified over 8 years ago
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Company financial Analysis 6/29/2014
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The name stands for Government Employees Insurance Company. It was founded by Founder Leo Goodwin. Its main purpose was to serve government employees especially those in military The company serves about 1.2 million people and it is still projected to grow.
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It is the second -largest private passenger auto insurer in the United States. It is one of the fastest growing companies in the USA It has employed over 30000 associates The Company provides 24 hour service to its customers
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Personal umbrella protection Life insurance Floods Oversees insurance Business insurance Commercial auto insurance Collector car insurance
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The financial strength is rated as superior. Debt rating for the company is good as far as securities is concerned Cooperate credit ratings EICO was named to the Ward's 50 top group of financially high-performing insurers for the 21st consecutive year
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The insurance premiums that the company receives is meant to make sure that the company is in position to settle claims. The company a total number of assets of over $28 billion. The ratings show that the company has a stable financial base
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By the end of 2012 the company had a revenue of 16740.00 M The growth rate was projected to be 9.00 The company had a total number of employees adding up,28000. The company has been able to pay off its expenses due to its financial position
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Admitted Assets: 25,778,845,243 Reserves(Loss, LAE, UPR): 10,845,885,865 Total Liabilities :13,689,078,999 Policyholders' Surplus:12,089,766,244
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Admitted Assets 215,672,817 Reserves(Loss, LAE, UPR) — Total Liabilities 92,067,357 Policyholders' Surplus 123,605,460
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The company has diversified in various fields unlike other companies which only do conventional insurance The company anchored its objectives on bettering the American troops as an insurance company GEICO has taken an approach that is hard for competitors to emulate.
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James, H.(2011). Financial analysis ratios. London :Macmillan Peter,H.(2012). The company score card. London: Macmillan George, B.(2013). Insurance and investment: case studies. Nairobi: Longman Leah, D.(2009). The changing faces of insurance. Cambridge:CP
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