February 21, 2018 4:42 AM ET


Company Overview of Farmers Insurance Exchange, Inc.

Company Overview

Farmers Insurance Exchange, Inc., a reciprocal and inter-insurance exchange company, provides property and casualty insurance products in the United States. The company provides accident and health, livestock, glass, boiler and machinery, burglary and theft, fidelity and surety, motor vehicle, workmen’s compensation, liability, personal property floaters, earthquake, fire, aircraft, inland marine, ocean marine, homeowners multiple peril, commercial multiple peril, and farm owners multiple peril insurance products. It also offers claims adjusting services to handle automobile property damage claims, homeowners’ claims, personal injury claims, physical damage claims, and hybrid claims. The com...

4680 Wilshire Boulevard

Los Angeles, CA 90010

United States

Founded in 1928





Key Executives for Farmers Insurance Exchange, Inc.

President and Chief Executive Officer
Chief Financial Officer and Treasurer
President of Non-Insurance Business
Age: 59
Compensation as of Fiscal Year 2017.

Farmers Insurance Exchange, Inc. Key Developments

Farmers Insurance Exchange Announces Pricing of its $400 Million 4.747% Surplus Notes Due 2057

Farmers Insurance Exchange announced the pricing of its offering of $400 million aggregate principal amount of surplus notes. Interest will accrue on the Surplus Notes at a fixed rate of 4.747% per annum to but not including November 1, 2037, and thereafter at a floating rate equal to the London inter-bank offered rate for three-month deposits in U.S. dollars plus 3.231% per annum. The company may redeem some or all of the Surplus Notes at any time on or after November 1, 2037 at a price equal to 100% of the principal amount of the Surplus Notes redeemed plus accrued and unpaid interest, if any. The Surplus Notes will mature on November 1, 2057. The company intends to use the net proceeds from the Offering, together with cash on hand, to repay its 6.15% Certificate of Contribution due 2021 issued to Zurich American Insurance Company, with an outstanding principal amount of $707 million as of June 30, 2017, on December 29, 2017. The Surplus Notes have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Surplus Notes will be offered in the United States only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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