Less than a year after a new CEO took the helm, GEICO has named David Foy as its chief financial officer. The appointment, effective June 29, 2026, puts a 30-year insurance finance veteran in charge of the company’s capital strategy.
Foy will be based at the company’s Bethesda, Maryland headquarters and report directly to chief executive officer Nancy Pierce. His brief covers financial planning, capital management, operational performance, and all real estate functions.
Pierce is herself a recent appointment at the top of the company. Berkshire Hathaway named her GEICO’s CEO after Todd Combs departed for JPMorgan Chase in late 2025. The move was part of a wider leadership reshuffle across Berkshire’s insurance operations.
Pierce joined GEICO in 1986 and rose through claims, underwriting, product management, and regional operations before becoming chief operating officer.
Pierce said Foy’s track record across insurance and financial services drove the decision.
“David is a proven finance executive, and we are pleased to welcome him to GEICO,” she said. “His extensive leadership experience across insurance and financial services will be instrumental to our continued success, and his expertise in capital management and building high-performing teams will support the long-term decisions that drive sustainable growth.”
Foy brings more than 30 years of experience to the position. His most recent work involved independent consulting to the insurance industry, advising on investment and transaction strategy.
Before this, he spent 14 years as chief financial officer of White Mountains Insurance Group. In the role, he led global finance functions and managed major transactions and acquisitions.
Earlier in his career, he served as chief financial officer of Hartford Life. Foy holds a bachelor’s degree in applied statistics from the Rochester Institute of Technology.
The appointment comes as GEICO works to hold onto a hard-won recovery. The insurer posted $2.2 billion in pretax underwriting earnings in Q1 2025, a 13% year-over-year increase following a restructuring that included significant job cuts. Customer numbers also started climbing again after a period of market share losses.
The road to recovery, however, was uneven. In Q3 2025, GEICO’s underwriting profit dropped 13% on higher claims costs. This came even as the broader Berkshire Hathaway group posted a 34% rise in operating earnings to $13.5 billion for the quarter.
The contrast put pressure on GEICO’s cost and claims management at a time when group results were otherwise strong.
Foy steps into the CFO seat at a moment when maintaining that financial momentum matters. Pierce’s emphasis on capital management and long-term decision-making in her statement points to where GEICO’s focus now sits.
