The FINANCIAL — Farmers Insurance Exchange (FIE), the largest of the three primary insurance entities that make up the Farmers Insurance Group of Companies, on June 6 was named again to the list of Fortune magazine’s 500 largest companies based in the United States, moving up 37 places to secure No. 227.
In reports supplied to Fortune magazine, FIE reported $12.6 billion in revenue in 2015 and assets of more than $15.6 billion. While this year’s submission to Fortune magazine by FIE did not include similar data for Fire Insurance Exchange or Truck Insurance Exchange, the combined figures for the three reciprocal insurers would have shown combined revenue of $15.8 billion and total combined assets of $20.1 billion.
“We are pleased that Farmers Insurance Exchange has been recognized again by Fortune as one of the nation’s largest and most successful companies,” said Jeff Dailey, chief executive officer of Farmers Group, Inc., which serves as the attorney-in-fact for the Farmers Insurance Exchange. “We are proud of this acknowledgment and feel this is a true indicator of our accomplishments in the marketplace as one of the nation’s leading multiline insurers.”
The Farmers Insurance Group of Companies, or Farmers Insurance, is composed of Farmers Insurance Exchange (FIE), Fire Insurance Exchange and Truck Insurance Exchange, which are three reciprocal insurers owned by their policyholders, together with their subsidiaries and affiliates. Under the Farmers, Foremost, 21st Century and Bristol West brands, Farmers Insurance has become a leading U.S. insurer group, insuring automobiles, homes and small businesses. Farmers Insurance also provides a wide range of other insurance and financial services products to customers.
Since its founding in 1928, Farmers Insurance has sold products and services through a network of Farmers agency owners who are independent small business owners based in communities across the nation. Currently, there are more than 13,000 Farmers agency owners nationally who receive training from the University of Farmers, which provides industry-leading learning and development programs to help agents further enhance their skills. Farmers Insurance continues to look for talented leaders and individuals with a record of professional success to support additional growth in its existing markets and its expansion into new states.
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