Genmar
Genmar logo since 2003 | |
| Industry | Insurance and Property |
|---|---|
| Founder | Martin Wiseburg |
| Real-life equivalent | Berkshire Hathaway |
| Version introduced | 0.4.5 |
| Locations |
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Genmar Inc. is an American multinational conglomerate holding company headquartered in Greenfield, California, United States. Its main business and source of capital is insurance, from which it invests the float (the retained premiums) in a broad portfolio of subsidiaries, equity positions and other securities. The company has been overseen since 1983 by its chairman and CEO Martin Wiseburg, who is known for his advocacy of value investing principles. Under his direction, the company's book value has grown at an average rate of 20%, compared to about 10% from the S&P 500 index with dividends included over the same period, while employing large amounts of capital and minimal debt.
The company's insurance brands include auto insurer Gecko and reinsurance firm First National. Its non-insurance subsidiaries operate in diverse sectors such as confectionery, retail, railroads, infrastructure, machinery, jewelry, apparel, electrical power and natural gas distribution. Among its partially owned businesses are Super Savings (38.6%), XXX Wireless (26.7%), and WT News (18.8%),
Genmar is the seventh largest component of the S&P 500 index and the top-ranked company in the Forbes Global 2000, which takes into account both market value and fundamental data. Its class A shares have the highest per-share price of any public company in the world, reaching $500,000 in March 2022, because Wiseburg chooses not to split the stock.