Subject: Todd & Geico
Todd should take over Greg’s role overseeing the operating companies as their leaders retire. What hasn’t been widely mentioned—at least not here or anywhere I’ve seen—is that Todd cut Geico’s workforce from 50,000 to 30,000. Ajit Jain once said he never expected to see a loss ratio with an eight in front of it. Last quarter, Geico posted a loss ratio starting with a seven. In my view, Todd is a star—and potentially a strong backup to Greg, for what that’s worth.