Which Fortune 500 company acquired GEICO in 1996?

Berkshire Hathaway acquired GEICO in 1996.

GEICO became a wholly owned subsidiary of Berkshire Hathaway in 1996, completing a relationship that had begun years earlier. Berkshire had first invested in GEICO in 1976, when Warren Buffett recognized the insurer’s direct-to-consumer business model and cost advantages.

GEICO was founded in 1936 by Leo Goodwin and Lillian Goodwin to insure government employees and military personnel. Its name originally stood for Government Employees Insurance Company, although the company later marketed to a much broader customer base.

The acquisition is sometimes confused with Berkshire’s earlier GEICO investment. Berkshire did not create GEICO; it gradually increased its ownership before purchasing the remaining shares. GEICO continues to operate as a separate insurance brand within Berkshire Hathaway.