California-based Farmers Insurance, a subsidiary of Zurich Financial Services, announced its position as the largest all-lines insurance group in California. Farmers’ growth combined with the growth of Zurich makes the enterprise the largest property and casualty insurance group in California, according to a report by the California Department of Insurance.“We are proud to be the largest insurance group in our country’s largest state,” said Paul Hopkins, CEO of Farmers Group Inc. “This distinction demonstrates our industry leading growth; and our commitment to our customers and the communities we serve.”
The combined Farmers and Zurich insurance companies offer a wide array of insurance products including homeowners, automobile, life, financial services, specialty products and business insurance across the United States. Farmers Group Inc. is headquartered in Los Angeles and has been in business since 1928.
Farmers Insurance also announced that its life insurance company, Farmers New World Life, is among the fastest growing life insurance companies in California in 2007.
“To lead California in growing all lines of our business is a real tribute to our thousands of agents and employees,” said Stephen Feely, senior vice president of Field Operations for California. “We’ve been in business for 80 years and we will continue our daily commitment to the people in California by offering industry leading customer service and superior products.”
The California Department of Insurance report on market share and written insurance premium demonstrates that the Farmers and Zurich group are industry growth leaders in a very competitive marketplace, Feely added.
In California alone, Farmers insures 1.7 million homes, 2.2 million automobiles, 114,500 small businesses and the lives of nearly 400,000 people.
Equally committed to the communities it serves, Farmers has contributed millions of dollars to dozens of charitable organizations. Farmers is also one of the top contributors of the March of Dimes, raising more than $4.5 million in 2007 to help promote healthy beginnings. During its “Be A Hero for Babies” day Farmers Insurance agents, district managers and employees raised more than $2.7 million in one day—the largest single day fundraiser in March of Dimes history.
Farmers Group Inc. is a wholly owned subsidiary of Zurich Financial Services, an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Farmers® is the nation’s third-largest Personal Lines Property & Casualty insurance group. Property and casualty products are underwritten and issued by the Farmers Exchanges and their subsidiaries, which Farmers Group, Inc. manages but does not own. For more information about Farmers, visit www.farmers.com.
The following table is an excerpt from the California Department of Insurance 2007 Property & Casualty rankings report:
| 2007 Property & Casualty rankings released by the California DOI: | ||||||
| | ||||||
| Rank | | Company | | Written premium (billions) | | Market share |
| 1 | | Farmers/Zurich | | $5.859 | | 10.33% |
| 2 | | State Farm | | $4.681 | | 8.25% |
| 3 | | American International Group | | $3.684 | | 6.49% |
| 4 | | Allstate | | $2.998 | | 5.28% |
| 5 | | State Compensation Insurance Fund | | $2.387 | | 4.21% |
| 6 | | Mercury General | | $2.316 | | 4.08% |
| 7 | | California State Auto | | $2.128 | | 3.75% |
| 8 | | Auto Club Enterprises | | $2.098 | | 3.70% |
| 9 | | Travelers | | $1.966 | | 3.46% |
| 10 | | Liberty Mutual | | $1.826 | | 3.22% |
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