Geico passes Progressive in car insurance ranks

Warren Buffett's 'hungry' unit is No. 3

Warren Buffett's Berkshire Hathaway Inc., which sells auto insurance through its Geico unit, passed Progressive Corp. to become the third-biggest insurer of private cars in the U.S... Policy sales last year to individual drivers advanced 6.7 percent to $12.5 billion at Omaha, Neb.-based Berkshire, the National Association of Insurance Commissioners said Friday in a statement on its Web site. Berkshire had about 7.6 percent of the market in 2008, according to the association.

Policyholder-owned State Farm Mutual Automobile Insurance Co., based in Bloomington, Ill., remains the leader, with a market share of about 18 percent, the association said. Allstate Corp. of Northbrook, Ill., ranks second with an 11 percent share...

Cincinnati: Geico passes Progressive in car insurance ranks