GEICO was founded in 1936 with the aim of insuring government employees and their families. Its abbreviation stands for Government Employment Insurance Company, although it has been privately held since its inception. Initial investments from Berkshire Hathaway made the company very well supported financially. This allowed the company to provide lower premiums to new customers as well as spend more money on training employees and developing dependable technology and services. Today it still ranks among the best in financial stability. In 1996 GEICO became a wholly owned subsidiary of Berkshire Hathaway. Through advertising GEICO gained much fame, and its gecko and cavemen mascots are among the most recognizable corporate spokespersons in the world. Usually famed for car insurance, it also provides motorcycle, rental, and homeowners insurance so if you are seeking multiple new insurance policies make sure to inquire about possible discounts and rates. GEICO is one of the leading insurance agencies in the United States to this day and employs over 24,000 people. In addition GEICO processes over 2 billion dollars in gross premiums per year.