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.............................. Farmers Insurance Group
Logo and Trademark..............................
Farmers Insurance Group is a provider of insurance management services and a holding company. It is the third-largest writer of both private passenger automobile and homeowners insurance in the United States. The Farmers Insurance Group of Companies is based in Los Angeles, California, and operates in 41 states. The company is now a wholly owned subsidiary of Zurich Financial Services, Zurich, Switzerland. Farmers Group, acting under the "dba" Farmers Underwriters Association, and its wholly owned subsidiaries, Truck Underwriters Association and Fire Underwriters Association, acts as the attorney-in-fact for three reciprocals or inter-insurance exchanges — Farmers Insurance Exchange, Truck Insurance Exchange and Fire Insurance Exchange. A reciprocal or inter-insurance exchange consists of policyholders (subscribers) who exchange contracts with one another so that they can provide themselves with insurance against certain losses. In addition, Farmers Group, Inc., is a life insurance holding company of the Farmers New World Life Insurance Company.
In 1928, Thomas E. Leavey and John C. Tyler founded the first Farmers Company in California. In 1988, British American Tobacco Industries attempted a takeover bid on the company, but the bid was rejected. A year later, the Farmers Board and stockholders finally agreed to be acquired by BATUS for $5.2 billion. Farmers Group became part of the B.A.T. financial services group.
In September 1998, the Zurich Financial Services Group was created from the merger with the financial services business of B.A.T. Industries Through a dual holding structure, Zurich Financial Services was owned 57% by Swiss-quoted Zurich Allied AG, representing the former shareholders of Zurich Insurance Company, and 43% by London Stock Exchange Allied Zurich p.l.c., the de-merged financial services interests of B.A.T. Industries p.l.c.
In October 2000, the Zurich structure was simplified and unified under a single Swiss holding company. Allied Zurich and Zurich Allied shares were replaced by shares of the newly incorporated Zurich Financial Services with a primary listing on SWX Swiss Exchange (ticker symbol: ZURN) and a secondary listing in London (LSE: ZURN). Zurich Financial Services American Depositary Receipts (ADRs) are traded on the American Stock Exchange (AMEX: ZFSVY).
In March 2000, the Farmers Insurance Group of Companies merged with Foremost Corporation (Foremost Insurance Company), a leading writer of manufactured homes and a prominent insurer of recreational vehicles, boats and other specialty lines.
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