Search results
Results from the WOW.Com Content Network
Website. www .statefarm .com. State Farm Insurance is a group of mutual insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property, casualty, and auto insurance provider in the United States.
It is owned by the “insurance company affiliates of various state Farm Bureau insurance companies and by AFBF.”It was reincorporated in 1954, and became a mutual carrier under the name American Agricultural Mutual Insurance Company, and then was reincorporated again in 1968 as a capital stock company under its current name. [67]
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
Over the next 70 years, Texas Farm Bureau grew from 15,630 member families to more than 500,000 member families. During its history, the organization has helped bring electricity and phone service to rural communities, establish a successful farm-to-market road system in Texas and enact effective national farm policy.
Farmers Insurance Group (informally Farmers) is an American insurer group of vehicles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independent agents and approximately 21,000 employees. Farmers is the trade name for three reciprocal exchanges ...
Mutual insurance. A mutual insurance company is an insurance company owned entirely by its policyholders. It is a form of consumers' co-operative. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums.
George Jacob "G.J." Mecherle [1] (pronounced "Ma-herl") (June 7, 1877 - March 10, 1951) was the founder of State Farm, headquartered in Bloomington, Illinois.Mecherle, a farmer who later became an insurance agent, founded State Farm after becoming dissatisfied with the insurance rates charged to farmers, as those rates included the risks of city drivers as well.
The company traces its history to the Great Depression in the 1930s, when the Iowa chapter of the Farm Bureau established Farm Bureau Mutual Insurance Company in 1939 to sell insurance to farmers. [3] Farm Bureau Life Insurance Company was founded as Iowa Life Insurance Company on October 30, 1944, and opened for business in 1945. [citation needed]