GeoVera Insurance Holdings, Ltd. · Fairfield, CA United States
Company Description
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This link will open in a new window Through earthquakes and hurricanes, GeoVera Insurance Holdings has got your house covered. The company provides specialty homeowners insurance in select regions of the US. Its coverage includes residential homeowners insurance in hurricane magnets Florida, South Carolina, and Texas; fire policies covering residential dwellings in wildfire-prone California; and residential earthquake coverage in California, Oregon, and Washington. GeoVera, which is domiciled in Bermuda, distributes its products through a network of more than 1,600 wholesale and retail brokers and agents. Affiliate GeoVera Re provides reinsurance services on GeoVera's catastrophe insurance products. To read the full description, subscribe now.
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Key GeoVera Insurance Holdings, Ltd. Financials
| Company Type | Private Single Location |
| Fiscal Year-End | December |
GeoVera Insurance Holdings, Ltd. Executives
5 executives listed for GeoVera Insurance Holdings, Ltd.'s Fairfield, CA location.
| Title | Name & Bio | Contact |
| President and CEO | Kevin Nish | Network |
| SVP Insurance Operations | Karen Padovese | Network |
| SVP and CFO | Brian Sheekey | Network |
Competition
Competitive Landscape for GeoVera Insurance Holdings, Ltd.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top GeoVera Insurance Holdings, Ltd. Competitors
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