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September 04, 2015 7:19 PM ET

Insurance

Company Overview of Farmers Group, Inc.

Company Overview

Farmers Group, Inc., doing business as Farmers Underwriters Association, operates as a multiline insurer in the United States. The company provides auto and recreation insurance, including auto, collectible auto, motorcycle, boat, travel trailer, and motor home insurance; and home insurance, such as homeowner, renters, condo, mobile home, and specialty home insurance. It also offers life and financial insurance that includes term life and whole life insurance, annuities, and mutual funds; and business insurance, including business liability, professional service, auto service/repair, and business umbrella insurance products. In addition, the company provides mobile homes, travel trailers, an...

6301 Owensmouth Avenue

Woodland Hills, CA 91367

United States

Founded in 1927

7,935 Employees

Phone:

323-932-3200

Fax:

323-932-3101

Key Executives for Farmers Group, Inc.

Chief Executive Officer and President
Age: 58
Chairman and Group Chief Risk Officer of Zurich Insurance Group AG
Age: 56
Chief Financial Officer and Executive Vice President
Chief Operations Officer
Senior Vice President, Director and President of Farmers Business Insurance
Age: 70
Compensation as of Fiscal Year 2015.

Farmers Group, Inc. Key Developments

Farmers Group, Inc. Names Karyn Williams as Chief Investment Officer, Effective September 1, 2015

Farmers Group, Inc. announced that Karyn Williams, Ph.D., has been named chief investment officer effective September 1, 2015. Williams will succeed Peter Teuscher, who has held the position since 2012. Teuscher has been appointed head of alternative investments for Zurich. Williams currently serves as head of insurance investments of Farmers Group, Inc. Prior to joining Farmers in 2013, Williams worked at Wilshire Associates, Inc. in various roles advising institutional investors on investments and risk management.

Farmers Insurance Group to Pay $84.4 Million to Settle Lawsuit

Farmers Insurance Group will pay $84.4 million to Texas policyholders to settle a 2002 suit. The state Attorney General's Office said Farmers had deceived consumers and engaged in discriminatory practices. In some cases, it said, consumers paid excessive premiums while their coverage was reduced without their knowledge. Notices will be mailed within 60 days to those who may be eligible for refunds.

Farmers Insurance Announces Management Changes

Farmers Insurance announced the appointment of Alan Gildemeister as Chairman of the Fire Insurance Exchange Board of Governors effective March 16, 2015. Gildemeister succeeds Dale Marlin, who served two separate terms as Chair, and will continue to serve on the Boards of Governors for the Fire Insurance Exchange and Farmers Insurance Exchange. Gildemeister joined the Fire Insurance Exchange Board in 2009 and has served as Vice Chair for the past three years. Gildemeister also remains on the Board of the Truck Insurance Exchange, which he joined in 2003.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 10, 2014
Farmers Group, Inc., Westerre I and II
 

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