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State Farm is the largest property and casualty insurance provider, and the largest auto insurance provider, in the United States. [8] State Farm is ranked 39th in the 2024 Fortune 500, which lists American companies by revenue. [9] State Farm relies on exclusive agents (also known as captive agents) to sell insurance.
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Michael L. Tipsord (born June 20, 1959) is the chairman of the board of State Farm Insurance in Bloomington, Illinois. Tipsord replaced Edward B. Rust Jr. as chairman on September 1, 2015. [ 1 ] State Farm is the 42nd largest company in the United States on the Fortune 500 [ 2 ] and the country’s largest auto and home insurer .
In 2015, Desjardins Insurance acquired the Canadian operations of U.S. based insurer State Farm, [1] which made Desjardins the second largest property and casualty insurer in Canada and the largest in Ontario. [2] This acquisition almost doubled the company's premiums, increasing from 2 billion to 4 billion. [3]
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A State Farm Insurance sign on a destroyed building during the Eaton Fire in Altadena, California, US, on Wednesday, Jan. 8, 2025. (Michael Nigro—Bloomberg)