GEICO Named to Ward's 50 Top Financial Ratings List for 19 Consecutive Years
Friday, Jul 24,2009, 9:14:05 AM Click:
GEICO made it 19 in a row when it was once again named to the Ward's 50top group of financially high-performing insurers in 2009.
GEICO first made the list in 1991 when the ratings were initiallycreated by the Ward Group, a financial analysis firm specializing in theinsurance industry.
The achievement is also significant for GEICO since it has earned thehighly favorable rating for the past 19 years as it successfully managedvigorous growth and moved up to become the third largest privatepassenger auto insurer in the country*.
U.S. insurers are named to the list by achieving safe and consistentlevels of surplus and premiums, net income, risk-based capital ratio andcompound annual growth. Companies in the Ward's top 50 also haveproduced excellent returns on average equity and assets, total revenue,growth in revenue, surplus to written premium and combined ratio over afive-year average.
Insurers in the Ward's 50, having been thoroughly scrutinized by aseries of financial performance measures, create ongoing stability intheir business sector, a welcome indicator for customers and investors.
*GEICO (Government Employees Insurance Company) is the third-largestprivate passenger autoinsurer in the United States based on 2008 market share data asreported by the National Association of Insurance Commissioners, March2009.
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