February 27, 2017 5:03 AM ET


Company Overview of State Farm Mutual Automobile Insurance Company

Company Overview

State Farm Mutual Automobile Insurance Company provides various insurance and financial services in the United States and Canada. Its insurance products include general, auto, accident, homeowners, condo owners, renters, life and annuities, fire and casualty, health, disability, long term care, business, and boat insurance products. The company also offers farm and ranch, flood, motor cycle, personal articles, personal liability umbrella, community organizations, and volcano damage insurance products. It sells its insurance products through agents. In addition, the company provides various banking products comprising checking and interest checking accounts, money market accounts, certificate...

One State Farm Plaza

Bloomington, IL 61710-0001

United States

Founded in 1922





Key Executives for State Farm Mutual Automobile Insurance Company

Chairman, Chief Executive Officer and President
Age: 56
Chief Administrative Officer and Executive Vice President
Age: 58
Chief Legal Officer, Executive Vice President and Secretary
Chief Marketing Officer and Chief Agency Officer
Executive Vice President
Compensation as of Fiscal Year 2016.

State Farm Mutual Automobile Insurance Company Key Developments

Court Denies State Farm Mutual Automobile Insurance Co. Appeal to Block Racketeering Lawsuit

A federal appeals court has rejected State Farm Mutual Automobile Insurance Co.'s appeal to block a class-action lawsuit filed against the company related to its involvement in aiding the election of an Illinois Supreme Court justice. The case has been sent back to a U.S. District Court in East St. Louis, Ill., where the trial will begin. State Farm will continue to defend its position. The company was facing a $1.05 billion judgment after policyholders accused State Farm of using auto parts of poor quality to repair damaged vehicles.

State Farm Mutual Announces Executive Changes

State Farm Mutual Board of Directors unanimously elected CEO Michael Tipsord to the position of Chairman of the Board. Tipsord succeeds outgoing Chairman Edward B. Rust Jr. Tipsord was elected to the office of president in 2015, and succeeded Rust as CEO later that same year. Tipsord serves on the board of directors for Navigant Consulting Inc. and is a trustee of the Brookings Institution. He is also a member of the dean's advisory board for the University Of Illinois College Of Law.

State Farm To Sell Campus In Richardson

State Farm Mutual Automobile Insurance Company is planning to sell its new 2 million-square-foot regional hub in Richardson. State Farm could also sell its two other similar hub campuses in Atlanta and Phoenix. The regional campus in Richardson is expected to be brought to the market via Eastdil Secured, according to real estate sources. A spokesman with State Farm was not immediately available to comment on January 19, 2016.

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Recent Private Companies Transactions

April 28, 2016
Four-Tower Campus in Richardson

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