Farmers Insurance Group of Companies

 Farmers Insurance Group of Companies

4680 Wilshire Boulevard

Los Angeles, California 90010


Wholly Owned Subsidiary of Zurich Financial Services Group

Incorporated: 1927 as Farmers Automobile Inter-Insurance Exchange

Employees: 16,000

Total Assets: $10 billion (1997)

SICs: 6311 Life Insurance; 8741 Management Services

Farmers Insurance Group of Companies was a wholly owned subsidiary of B.A.T. Industries from 1988 until B.A.T.’s merger with Zurich Insurance Company, scheduled to be completed in 1998. The fifth largest property and casualty insurer in the United States in 1997, the company is headquartered in Los Angeles and operates in 30 states with a distribution network of over 16,000 employees. As a reciprocal insurer, the company is an industry leader in auto, fire, truck, and life insurance, as well as other customer services.

Founding Fathers, the 1920s

The company was the brainchild of cofounders John C. Tyler and Thomas E. Leavey, who started Farmers Automobile Inter-Insurance in 1927 to offer preferred insurance rates to rural drivers—an overlooked market. Tyler, the son of an insurance salesman from rural South Dakota, believed that farmers and ranchers, who had better driving rates than urbanites due to the lowered likelihood of accidents, ought to receive lower premiums. His partner, Thomas Leavey, also came from a rural background, and had worked for the Federal Farm Loan Bureau and the National Farm Loan Association prior to founding the company.

Farmers Insurance Group of Companies  Farmers Insurance Group of Companies Reviewed by HeaNou on July 05, 2021 Rating: 5

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