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Todd Combs, thought of one among Warren Buffett's principal lieutenants and potential successor to the 'Oracle of Omaha', has been appointed CEO of GEICO, the automotive insurance coverage firm owned by Berkshire Hathaway, following the choice of the present president and chief government of the entity, Invoice Roberts, to retire in 2020.

Combs, 48, will assume his new duties as CEO of GEICO as of January 1. Additionally, the 'dolphin' of Warren Buffett will proceed to handle an funding portfolio of 14,000 million {dollars} for Berkshire Hathaway,

“Todd has a powerful profession in insurance coverage,” stated Ajit Jain, vice chairman of Berkshire Hathaway, noting that the brand new CEO of GEICO has been the supervisor of the Warren Buffett funding car since 2010.

GEICO, based in 1936, is the second largest automotive insurance coverage firm in america, with greater than 28 million insured automobiles.