September 25, 2016 3:47 PM ET

Insurance

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

Phone:

309-766-2311

Fax:

309-766-3621

Key Executives for State Farm Mutual Automobile Insurance Company

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

State Farm Mutual Automobile Insurance Company Key Developments

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.

State Farm Announces Executive Changes

State Farm Chairman and CEO Edward B. Rust Jr. announced that Michael Tipsord, State Farm president and chief operating officer, will succeed him in September as chief executive officer. Rust, who has served as CEO the past 30 years, will continue as chairman of the board. Tipsord was named chief financial officer in 2004, chief operating officer in 2011 and was elected to the office of president in 2015. Tipsord is a member of the board of directors of State Farm Mutual Automobile Insurance Company and its principal affiliates.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 28, 2016
Four-Tower Campus in Richardson
 

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