US insurer dead at 80

John Byrne was the executive who led the turnaround of car insurer Geico Corp. His work was significant enough that billionaire Warren Buffett bought Geico and famously called Byrne "the Babe Ruth of insurance," making Byrne a notable figure for investors interested in the insurance sector.

Byrne engineered a turnaround of Geico Corp that changed the company’s prospects. The article says his success prompted Warren Buffett to buy the company, signaling that Byrne’s leadership had real market impact.

According to the article, Warren Buffett bought Geico after Byrne’s turnaround and called Byrne "the Babe Ruth of insurance," highlighting Buffett’s high regard for Byrne’s achievements in the industry.

John Byrne died on March 7 at his home in Etna, New Hampshire. He was 80 years old, according to the article.

The article reports that the cause of John Byrne’s death was prostate cancer.

The article cites Robert Snyder, a family spokesman, as the person who confirmed John Byrne’s death.

The article reports Byrne’s passing and his legacy but does not provide any information about effects on Geico’s current operations or implications for investors.

Based on the article, Byrne’s legacy is that a successful corporate turnaround can attract major investors—Warren Buffett’s purchase of Geico after Byrne’s revival is a clear example. For everyday investors, that underscores how leadership and operational turnarounds can materially change a company’s investment appeal.