WOODLAND HILLS, Calif., June 6, 2016 /PRNewswire/ — Farmers Insurance Exchange (FIE), the largest of the three primary insurance entities that make up the Farmers Insurance Group of Companies®, today 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.
About Farmers Insurance Exchange and the Farmers Exchanges
Farmers Insurance Exchange is a California-domiciled reciprocal insurer owned by its policyholders. Together with Fire Insurance Exchange, Truck Insurance Exchange and their subsidiaries and affiliates (collectively, the “Farmers Exchanges”), these companies comprise the Farmers Insurance Group of Companies. The Farmers Exchanges serve more than 10 million households with over 19 million individual policies through the efforts of over 13,000 exclusive agency owners and more than 13,000 employees. “Farmers®“, “Farmers Insurance®“, and “Farmers Insurance Group of Companies®” are trade names of the Farmers Exchanges. Headquartered in Woodland Hills, California, the Farmers Exchanges have regional facilities throughout the United States, including major centers in Austin, Grand Rapids, Kansas City, Oklahoma City, and Portland, among others. Farmers Insurance Exchange, the largest of the three primary insurance insurers that make up Farmers Insurance, is recognized as one of the largest U.S. companies on the 2016 Fortune 500 list.
SOURCE Farmers Insurance